SpaceX rose about 6% in premarket trading on Monday after its record Nasdaq debut last week. The stock traded near $170 before the open, extending gains from Friday’s first session. SpaceX priced its IPO at $135 and closed at $161 after a 19% jump. That move pushed its market value above $2 trillion and started a fresh debate over the company’s price.
SpaceX rose again before Monday’s open as strong demand continued after its first public trading day. The stock’s record IPO and sharp Friday gain kept buyers active in premarket trading.
The stock trades under the ticker SPCX. Its first session showed strong interest from both retail and institutional traders. The premarket gain suggested that demand remained active after Friday’s sharp rise.
SpaceX operates Starlink, its satellite internet business, and a large reusable rocket fleet. These businesses remain central to the company’s growth plans. However, the IPO also arrived after SpaceX merged with Elon Musk’s artificial intelligence startup xAI in February.
CryptoQuant data showed strong early activity in SPCX across tokenized equity markets. On Gate, SPCX trading volume crossed $100 million on its first day of listing. The chart placed SPCX far above other equity assets tracked on the platform.
For comparison, Circle trading volume reached about $4 million, while Tesla stood near $3.5 million. The difference showed how much attention SPCX attracted after its public listing. CryptoQuant analyst Darkfost linked the early spike to demand from stock and crypto-linked traders.
CryptoQuant | Source: X
The chart also showed earlier volume bursts in other tickers, including Tesla, MicroStrategy, Nvidia, Circle, and Coinbase. Still, none matched the first-day SPCX bar. That volume helped explain why market attention stayed high into Monday’s premarket session.
SpaceX’s valuation became the main point of debate after the IPO. The company closed Friday with a market cap above $2 trillion. That level placed SpaceX among the largest publicly traded companies in the market.
The debate centers on whether future growth can support the current price. SpaceX reported a loss of nearly $5 billion in 2025. Investors now weigh that loss against Starlink growth, reusable rocket leadership, and long-term space infrastructure plans.
CFRA started coverage with a sell rating and a $115 price target. The firm cited SpaceX’s high valuation, large spending needs, and ambitious growth plan. That target sat well below Friday’s closing price of $161.
Analyst Nicolas Owens valued SpaceX at $63 per share and called the stock overvalued. That estimate showed a wide gap between some analyst models and the public market price.
SpaceX’s capital spending also drew attention. The company spent $10.1 billion in the three months ended March. That amount compared with $4.1 billion in the same period last year.
A large part of that spending went toward artificial intelligence. Analysts now track how the xAI merger changes SpaceX’s cost base and future revenue plans. Some investors also want more detail on governance, execution risk, and cash flow timing.
Still, other analysts see long-term support for the current valuation. NewStreet Research began coverage with a $165 price target. Analyst James Ratzer said the company may need a 20-to-25-year investment view to justify its market price.
Ratzer also pointed to SpaceX’s lead in launch capacity. He said the company has at least a 10-year advantage over rivals in rocket launch capability. That lead could support Starlink, direct-to-cell services, Starship, and planned orbital data centers.
