Key Highlights

  • SPCX stock is up about 8.4% in pre-market, trading near $209, following a 19.6% gain in the prior session.
  • SpaceX's market cap briefly surpassed $3 trillion in pre-market, exceeding Amazon and Microsoft in valuation.
  • Elon Musk posted on X that SpaceX could reach approximately $1 trillion in annual revenue by 2030.
  • A lockup unlock tied to the first earnings report, expected in late July or August, is flagged as a key near-term risk.

SpaceX stock extended its post-IPO rally into pre-market trading on June 16, climbing about 8.4% to around $209, building on the prior session's 19.6% gain. The move briefly pushed the company's market capitalization above $3 trillion, surpassing both Amazon and Microsoft in valuation.

The pre-market surge follows what was already the second consecutive day of heavy gains since SpaceX's June 12 Nasdaq debut, the largest initial public offering in history. Shares opened the prior session at $171.81 before closing at $192.50, and have now extended well above the $135 offering price.

The rally has been supported by a combination of factors. A broader market advance driven by a preliminary US-Iran peace deal sent the S&P 500 up 1.7% and the Nasdaq 3.1% on Monday, providing a favorable backdrop. Continued retail and institutional buying following the record IPO has also kept demand elevated, with trading volume reaching 243.78 million shares in the prior session.

New leveraged exchange-traded funds linked to SpaceX stock launched this week, adding further buying pressure through their daily rebalancing mechanics. These products have amplified trading activity around SPCX shares in early sessions.

Elon Musk, who serves as chief executive of SpaceX, posted on social media over the weekend that the company might be able to reach approximately $1 trillion in annual revenue by 2030. The company generated $18.67 billion in revenue in 2025, meaning the 2030 target would represent a roughly 50-fold increase over five years.

Bears remain vocal on the valuation. One research firm has noted that SpaceX would need a 50 times revenue surge to justify its current valuation, and a post-IPO lockup unlock tied to the first earnings report, expected in late July or early August, presents a key near-term risk. That unlock alone is estimated to represent approximately 7% of shares outstanding, exceeding the size of the IPO itself.

SpaceX operates across three segments, Space, Connectivity, and AI, which encompasses xAI, Grok, and the social platform X, following a February 2026 merger with Musk's AI startup xAI. The Starlink satellite internet service, which operates a constellation of roughly 9,600 satellites in low-Earth orbit, serves customers across 164 countries and currently generates the majority of company revenue.