SpaceX officially priced its IPO at $135 per share, raising $75 billion ahead of its highly anticipated Nasdaq debut on Friday under the ticker SPCX, as reported by CNBC. With shares expected to begin trading on Nasdaq today, the market is building optimism around the record-breaking offering. Dow futures were up 0.5%, S&P 500 futures gained 0.2%, and Nasdaq futures edged 0.06% higher as of 5:00 a.m. ET, according to latest market data. The IPO has been four times oversubscribed, demonstrating extraordinary investor demand for the space technology company.
CNBC host Jim Cramer has issued a warning that SpaceX stock could surge to unsustainable levels at its debut, according to reports from CNBC. Cramer told Mad Money viewers that a massive first-day surge is the last thing SpaceX needs, with his concern centered on inexperienced retail investors placing market orders rather than limit orders. He warned that SpaceX could briefly command a valuation rivaling the world's largest companies, a level he said rarely ends well for buyers who chase the open. "Tomorrow at this time, if things really go awry, we may have a new champion, a new largest stock in the world: SpaceX," the "Mad Money" host said. Cramer noted that he is particularly concerned about the wave of inexperienced investors placing market orders, rather than limit orders, potentially pushing the stock to unsustainable levels. "These are new, unguided missiles who can't be controlled," he said.
Retail sentiment has softened significantly ahead of the SpaceX debut, with retail sentiment for the SPDR S&P 500 ETF (SPY) dipping to 'bearish' from 'bullish' territory, while the Invesco QQQ Trust (QQQ) ETF moved to 'neutral' from 'bullish', according to Stocktwits data. This shift in retail sentiment comes as investors prepare for the day's biggest event, with SpaceX's Nasdaq debut under the ticker SPCX, following the largest IPO in market history. The contrasting sentiment between the two major ETFs reflects mixed expectations about the IPO's immediate impact on broader market performance.
President Trump backed away from planned military action against Iran, signaling a finalized peace deal framework is likely soon, as reported by CNBC. According to Iran's Mehr News Agency, the 14-point document stipulates that final negotiations will not begin until half of Iran's frozen funds are released, oil sanctions are suspended, and the naval blockade on the Strait of Hormuz is lifted. This geopolitical thaw accelerated after Trump announced the cancellation of scheduled military strikes, with the news pulling WTI crude down toward $85 a barrel and lowering Treasury yields, soothing inflation fears. Iranian state media reported that a proposed peace deal would reopen the Strait of Hormuz, providing additional market optimism ahead of the SpaceX debut.
Nasdaq announced its June 2026 quarterly rebalancing, effective June 22, adding AI infrastructure and space-tech plays, including Rocket Lab and CoreWeave, as reported by CNBC. This rebalancing comes as the market prepares for the SpaceX debut and reflects the growing importance of space technology companies in the Nasdaq ecosystem. The timing of this rebalancing coincides with the SpaceX IPO, potentially providing additional momentum for space-related stocks as they enter the Nasdaq 100 index.
