SpaceX IPO Triggers Stock Market 'Star Wars,' Space Stocks Plummet

SpaceX, Elon Musk's pioneering space exploration company, officially began trading on the stock market Friday, June 12, 2026, under the ticker symbol SPCX. This landmark event followed the completion of the largest initial public offering in history, raising an impressive $75 billion.

According to filings with the U.S. Securities and Exchange Commission, SpaceX issued 555.6 million shares at $135 each. This offering values the company at a staggering $1.77 trillion, positioning it as the seventh most valuable company in the United States, surpassing even Musk's electric vehicle giant, Tesla.

Musk, participating remotely from Texas, and SpaceX President and Chief Operating Officer Gwynne Shotwell, from New York City's Nasdaq, virtually participated in the opening bell ceremony. By late Friday evening Taipei time, SpaceX's reference price hovered around $162 per share.

The debut of SpaceX on the public market sent ripples through the sector, causing a collective downturn for space concept stocks. By late Friday evening Taipei time, Richard Branson's Virgin Galactic had plummeted 25%. Redwire experienced a sharp intraday drop of nearly 10%, later recovering slightly to a 7% decline. Planet Labs PBC also saw a significant fall of 6%, as did Rocket Lab.