SpaceX went public on June 12 in an offering that raised $75 billion through the sale of 555.56 million shares at $135 each. Trading began on Nasdaq under ticker SPCX at about $150, and the stock reached nearly $176 during its first session, briefly lifting the company's market capitalization above $2 trillion. A new report puts the IPO valuation at $1.75 trillion, revising the previously cited $1.77 trillion figure, while some investors and analysts considered the valuation too high. SpaceX also reported a 90% increase in second-quarter revenue to $7.8 billion. The company had reported a net loss of roughly $4.94 billion on $18.67 billion of 2025 revenue. Goldman Sachs and Morgan Stanley managed the offering, which was oversubscribed by more than four times, and Elon Musk retained approximately 82%-85% voting control. The IPO also fueled a rotation away from the Magnificent 7, with Tesla viewed as the company most directly exposed to competition for the Musk premium in investor portfolios.