Graphics: NHU KHANH
On June 12th, the stock price of SpaceX, the rocket and satellite manufacturing company owned by American billionaire Elon Musk, surged 19% in its first trading session on the Nasdaq stock exchange, pushing the company's market capitalization past the $2 trillion mark, making it the sixth-largest company in the US by market capitalization and the first billionaire in the world to possess over $1 trillion.
Investors are excited.
Founded SpaceX in 2002, South African-American billionaire Elon Musk has transformed the space industry with his partially reusable rockets and Starlink satellite internet service.
In February of this year, SpaceX acquired Musk's own artificial intelligence company, xAI, which owns the social network X. He also runs the electric car company Tesla and several other businesses.
According to Reuters, SpaceX raised $75 billion through the largest initial public offering (IPO in history) on June 11.
After the stock went public, the hype surrounding the deal continued to build as more than 510 million SpaceX shares were traded on the first day of trading, with a total transaction value of approximately $84 billion.
The launch went much more smoothly than many had predicted. Trading began on the morning of June 12th without the glitches that plagued Facebook's 2012 launch.
At the close of trading, SpaceX's stock price reached $160.95 per share, raising the company's market capitalization to approximately $2.1 trillion.
From large institutions to individual investors who admire Musk, many ended the trading day in an excited mood. "For many investors, SpaceX is like investing in railroads during the Industrial Revolution. They're willing to pay the high price Elon Musk is asking for that opportunity," said Seth Hickle, chief investment officer at Mindset Wealth Management.
With $75 billion raised, SpaceX's IPO is more than double the size of Saudi Aramco's record-breaking IPO in 2019.
SpaceX's success is expected to pave the way for a new wave of listings, unleashing massive amounts of wealth in Silicon Valley and Wall Street, and giving rise to more influential "big players."
Behind the glitz and glamour
However, analysts and portfolio managers warn that SpaceX's stock price could be highly volatile in the initial period. Meanwhile, the New York Post ran the headline: "SpaceX's launch creates a trading frenzy, but risks draining the oxygen from the stock market."
"SpaceX is siphoning off a huge amount of money into a single company. This could temporarily deplete the liquidity of the rest of the market as investors focus their attention on this one company," worried Ken Mahoney, CEO of Mahoney Asset Management.
He explained: "A deal of this magnitude will draw money from all sides – from large institutions, individual investors, and funds that would otherwise be buying other stocks."
With the excitement surrounding SpaceX, some of that money is being diverted away from smaller businesses or other sectors, at least for now."
In addition, SpaceX, despite having numerous contracts with the US National Aeronautics and Space Administration (NASA) and other federal agencies, has long been considered a financial "unknown quantity".
Last month, the company released its full financial picture for the first time, showing SpaceX recording a loss of more than $4.9 billion last year, in contrast to a profit of $791 million in 2024, primarily due to significantly increased spending on AI.
These figures have raised concerns among some potential investors, who believe SpaceX's valuation of over $1.7 trillion is too high. They point out that Musk has repeatedly set ambitious goals and question whether plans such as launching an AI data center into orbit or building a factory on the moon are truly feasible.
Jim Chanos, founder of investment firm Chanos & Company, argues that investors are being drawn to the glitz and glamour without carefully examining what's really happening behind the scenes.
Last week, Democratic Senator Elizabeth Warren sent a letter to the U.S. Securities and Exchange Commission (SEC), asking the agency to clarify whether it had adequately reviewed SpaceX's statements about its business operations before the IPO, and questioning the basis of some of the company's financial projections. "This appears to be the most manipulated IPO in American history," Warren commented.
Bet on Elon Musk
Many people are excited about this deal, seeing it as a new opportunity to bet on Elon Musk – a man who has repeatedly changed the game in the industries he participates in.
On social media platform X, some fans of the tech billionaire have reposted a quote allegedly attributed to billionaire Peter Thiel: "Never bet against Elon."
Source: https://tuoitre.vn/spacex-gia-tri-2-000-ti-usd-thuc-hay-ao-20260614083903745.htm
