SpaceX shares soar almost 30% on debut with higher-than-expected demand

SpaceX shares soared almost 30% in their debut on the Nasdaq this Friday (12), trading at US$ 173.65 (R$ 893.92) close to 2:50 pm.
Elon Musk's company hit the stock exchange after pricing its IPO at US$ 135 per share and raising around US$ 75 billion (R$ 386.1 billion). But, even before negotiations began, signs of interest were already drawing attention on Wall Street.
According to information from Bloomberg, retail investors - individuals - sent more than US$70 billion in requests to participate in the offering.
The expectation was that this group would receive at least 20% of the shares distributed in the IPO. Even so, demand far exceeded the quantity of shares available.
▶ In practice, this means that many investors received fewer shares than they requested or were completely left out of the offer. Part of this demand migrated to the open market as soon as negotiations began, increasing demand for shares and helping to boost prices.
SpaceX launches Starship, the most powerful spacecraft in the world
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The thesis behind SpaceX
The movement helps explain why SpaceX's debut was followed with so much attention.
The logic is simple: when there are more buyers than shares available, prices tend to rise until supply and demand find a balance point.
Interest in the company also reflects SpaceX's uniqueness in the market.
▶ Although it ended 2025 with revenue close to US$18.7 billion and a net loss of around US$4.9 billion, the company is seen by many investors less for its current results and more for the growth potential of its business.
Today, SpaceX brings together activities that go beyond space launches. The company controls the Starlink satellite internet network, works on projects linked to artificial intelligence through xAI and develops Starship, a rocket considered a central part of its plans to reduce the costs of access to space.
Logos of Tesla, Neuralink, SpaceX, The Boring Company and SolarCity appear in front of the photo by Elon Musk
REUTERS/Dado Ruvic/Illustration/File photo

Source: G1