Washington (United States) (AFP) – Elon Musk's SpaceX is just days from a historic stock market debut set to break all norms, drawing feverish excitement from Wall Street's financial wizards even as skeptics question whether the rocket maker can ever turn a profit.
Issued on: 10/06/2026 - 18:36
3 min Reading time
With the company set to stop taking investor orders Wednesday and pricing set for Thursday, the world's most anticipated initial public offering (IPO) is hurtling toward its expected Nasdaq debut on Friday."Demand seems to be shaping up pretty well," Renaissance Capital's Matthew Kennedy said of the transaction that aims to raise $75 billion in what would be a record-breaking IPO."No question that there is a ton of hype around it. Nothing captures the imagination like space," which is why the stock "has generated excitement in ways that few other stocks can," Kennedy added.The company -- which builds rockets, provides satellite internet through its Starlink network, and recently merged with Musk's artificial intelligence firm xAI -- will offer more than 555 million shares at an expected $135, placing SpaceX among Wall Street's most elite companies with a valuation of around $1.8 trillion.That valuation -- and the IPO's success -- rest squarely on investors' faith in Musk as a visionary entrepreneur. After the offering, the tech multi-billionaire will hold more than 82 percent of the voting power, cementing his grip on one of the world's most valuable companies.And amid reports that demand is exceeding already elevated expectations, the launch price could still move higher."We've seen exceptional excitement, unlike everything else we've heard before when it comes to IPOs," said Eva Ardos, chief investment strategist at ERShares, which holds a stake in SpaceX through a special-purpose private fund.For Kim Forrest of Bokeh Capital Partners, SpaceX embodies a "cool" factor thanks to Musk's marketing savvy.Around one-third of the shares will be set aside for everyday investors -- of which many are die-hard believers in Musk -- a far larger slice than a typical IPO offers.Destroyer of capital?
