SpaceX Hits $2 Trillion Valuation in Record-Breaking Nasdaq Debut

The stock opened at $150 before climbing further to $156, reflecting intense investor appetite despite warnings from market analysts regarding volatility. Ben Ritchie of Aberdeen Investments noted that the company’s strategy relied on a tight free float and a significant retail allocation to drive early momentum, a move critical for securing the capital required for the firm's ongoing heavy investment cycle.

While the market reacted with enthusiasm, the broader financial community remains divided. Don Calcagni of Mercer Advisors cautioned that first-day performance rarely dictates medium-term success, noting that the initial price pop often serves to fund early investors at the expense of new arrivals. Meanwhile, academic skepticism surfaced, with Columbia Business School professor Shivaram Rajgopal labeling 2026 the year of the "mega IPO," potentially marking a peak for a market fueled by private credit and AI-driven expectations.

Political scrutiny has also intensified. Senator Elizabeth Warren criticized the SEC’s approval of the listing, describing the company’s valuation metrics as nonsensical. She urged index providers and regulators to prioritize the protection of retail investors’ retirement portfolios, warning against the risks associated with the high-profile rollout of a company whose future funding remains tethered to the unproven monetization of its AI initiatives.