SpaceX shares have climbed more than 50 percent above their $135 IPO price in the first week of public trading. The stock rose as much as 13 percent on Tuesday to reach $210 amid heavy demand and a limited public float.
The company sold 555.6 million shares in its IPO, later expanded to 638.9 million shares for about $85.7 billion in proceeds. With roughly 13 billion shares outstanding overall, only a small portion reached the public market.
Retail traders, index funds and crypto futures users have driven the momentum. Perpetual futures tied to the SPCX ticker saw volume jump more than 500 percent in 24 hours, with over $30 million in positions liquidated amid price swings exceeding 35 percent.
SpaceX also announced an agreement to acquire Anysphere, maker of the AI coding tool Cursor, for $60 billion in an all-stock deal expected to close in the third quarter of 2026. The transaction aims to advance AI model development through joint training efforts already underway.
Analysts have compared the trading pattern to meme stocks and late-cycle speculation, noting the valuation now exceeds $3 trillion despite ongoing losses.
