Overview
- SpaceX priced its IPO at $135 on June 12 and raised about $75 billion, which rose to roughly $86 billion after underwriters exercised overallotment.
- The stock rallied sharply in the first days of trading and then swung between big gains and steep declines as limited supply magnified buying and selling pressure.
- Short interest has climbed to about 13% of the public float, a rapid jump from roughly 8% that has traders debating whether a squeeze could force big short-covering moves.
- Company disclosures show just over $100 billion in cash and plans for bond offerings to refinance debt, a mix that has investors weighing capital needs against growth bets in AI and Starlink.
- Analysts are split on valuation, merger talk with Tesla remains unconfirmed, and near-term catalysts such as index entries and staggered lockups could materially change available supply and volatility.