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SpaceX shares soar 30% midday, vaulting it to top six most valuable U.S. companies

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8:54 AM PDT · June 12, 2026

SpaceX lifted off on its first day as a public company, immediately jumping to $150 a share after it began trading on the Nasdaq, around 11% higher than the $135 figure at which it officially priced its IPO on Thursday. The stock price reached as high as $176 in midday trading, pushing the company’s market capitalization to nearly $2.3 trillion, making SpaceX the sixth most valuable public company in the U.S.

The stock pop isn’t a surprise. The company’s IPO was oversubscribed by 4x, according to Bloomberg, meaning many institutional investors didn’t receive allocations and are likely buying shares on the open market.

The demand for SpaceX is also a function of its small float, with only about 4% of shares available for public trading, while early investors and employees hold the rest. SpaceX also successfully lobbied a number of indexes (like the...

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Sources: Microsoft plans to announce job cuts next week affecting less than 2.5% of its 220,000-person workforce, including roles in sales, consulting, and Xbox

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