June 10, 2026 · Michael Vodicka · 5 min read
On Friday, SpaceX goes public — the largest stock-market debut the world has ever seen. It’s a remarkable company and a genuinely exciting moment. It’s also priced for perfection. Here’s exactly how I’m thinking about it for your portfolio.
A Historic Debut
Let me start with the headline: on Friday, June 12, SpaceX is set to begin trading on the Nasdaq under the ticker SPCX. Pricing locks in the night before, after Thursday’s close, at a fixed $135 per share. That pins the company’s value at roughly $1.75 trillion — making this the largest IPO in market history, eclipsing Saudi Aramco’s record 2019 debut. This is a big moment, and I want to make sure you understand both why it’s exciting and why it calls for a steady hand.
I’ve been fielding questions about this one for weeks, so let me walk you through what SpaceX actually is, what’s happening with the offering, and — most importantly — exactly what I plan to do with it in client accounts.
What SpaceX Actually Is
SpaceX isn’t a single business — it’s four powerful businesses under one roof, and that’s a big part of why I’m bullish on the company itself.
1 The Launch Business
This is the foundation. SpaceX’s reusable Falcon rockets rewrote the cost of getting to orbit, and the company now dominates global commercial launch. It’s the workhorse that funds everything else — and it’s a big reason total revenue reached $18.67 billion in 2025, up 33% from the year before.
2 Starlink — The Crown Jewel
This is the piece that makes the whole story credible. Starlink’s satellite-internet network now reaches customers around the globe, and it delivers exactly what investors prize most: recurring, growing, increasingly profitable revenue. When I think about what could justify a premium price tag here, Starlink sits right at the center of it.
3 Starship — The Next Frontier
Starship is the largest, most powerful rocket ever built — designed for heavy-lift missions, lunar landings, and eventually Mars. It’s early and it’s ambitious, but it’s exactly the kind of moonshot that gives a growth company its long-term upside. This is the part of the story that could still surprise us in a decade.
4 The AI Frontier
Here’s what’s new and turning heads: SpaceX is pushing into space-based AI computing. The company recently signed a cloud agreement with Alphabet’s Google worth roughly $920 million a month through 2029, struck a similar deal with Anthropic, and is targeting its first orbital AI computing demonstrations by the end of next year. Management is pointing to a $23 trillion market opportunity. That’s the blue-sky number — but it tells you why investors are this excited.
The Shift to Public Markets
For years, Elon Musk wanted to keep SpaceX private. Starlink’s success changed the math. Now the order books tell the story: demand for shares on the IPO has poured in at more than $250 billion — running close to four times oversubscribed against the roughly $75 billion the company is raising. Several institutions reportedly placed single orders of $10 billion or more, and everyday investors are getting about 30% of the deal through platforms like Fidelity, Robinhood, and Schwab. Put simply, the appetite for this stock is enormous — and that’s before it has traded a single share.
Largest IPOs Ever — By Money Raised
SpaceX’s target raise dwarfs every record before it.
Alibaba ’14
$25B
Aramco ’19
$29B
SpaceX ’26 ★
~$75B
★ Target gross proceeds. Sources: company filings and press reports, June 2026.
“This is one of the most exciting companies to come to market in a generation. But excitement and a fair price are two different things — and my job is to keep both in view.”
— Michael Vodicka, Vodicka Group
Let Me Be Straight About the Valuation
Here’s where I have to be skeptical, because that’s my job. And the valuation looks wild. A $1.75 trillion price tag would instantly rank SpaceX among the ten most valuable companies in America — and it’s being applied to a business that, for all its brilliance, posted a net loss of roughly $5 billion in 2025.
Now layer on the mechanics: the deal is priced at a fixed $135, the public float is razor-thin at around 3% of the company, and demand is running four times the supply. Add those together and you get a setup where the price can move sharply in the early going. Some are calling it the “Elon premium,” and several respected independent valuations sit well below the offer price. None of that makes SpaceX a bad company — not even close. It simply means the price already assumes a lot of good news, and that’s worth going in with eyes open.
My Plan for Your Portfolio
So here’s exactly what I’m going to do. I plan to buy SpaceX for clients — both for the short run and the long run. I believe in this company, and I want you to own a piece of it. But let me be clear about who this is for: SPCX is a growth holding for investors who can handle short-term volatility. With a thin float and four times more demand than supply, the price can swing hard in its first days and weeks. That’s simply the nature of a debut this size.
Shares are set to open at $135 — but with this kind of demand, they could easily open much higher. If the stock gaps up sharply out of the gate, I’m not going to chase it. In that case, I may wait a few days to let the dust settle and look for a more sensible entry point. That’s not hesitation — it’s discipline. I’d rather buy a great company at a thoughtful price than pay any price on day one.
What to Expect
Treat the first few trading sessions as price discovery, not a verdict on the company. There will be noise, big headlines, and probably some dramatic swings in both directions. Stay focused on the fundamentals: a dominant launch business, a crown jewel in Starlink, and real optionality in Starship and AI. The big picture is that this is a special company — and we’re going to build a position in it the right way, with patience and discipline.
If you have questions about whether SPCX fits your specific goals and risk tolerance, that’s exactly the conversation I want to have. Reach out anytime — that’s what I’m here for.
Related Reading from Vodicka Group:
→ SpaceX IPO 2026: A Preview of the Biggest Debut Ever
→ S&P 500 April 2026 Update: A Blockbuster Month
→ Schedule a Free Portfolio Review
As always, if my outlook changes, my clients and readers will be the first to know. I’ll be back with another update soon — have a great week!
Until next time,
Michael Vodicka
Founder & Lead Advisor · Vodicka Group
Disclaimer: This report is for entertainment purposes only. Every investor should consult with an investment advisor before making investment decisions. The Vodicka Group, Inc. is not a broker/dealer. We do not receive compensation for mentioning stocks. At various times, the clients, publishers and employees of Vodicka Group, Inc., may buy or sell the securities discussed for purposes of investment or trading.
