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Shares in SpaceX rose another 6% on Monday, building on a 19% jump from the prior session, CNBC reported. Friday's close of $161 โ€” against an IPO price of $135 โ€” pushed SpaceX's market capitalization past $2 trillion, cementing its place as the biggest public offering on record.

On Sunday, SpaceX CEO Elon Musk posted on X that the company "might be able to reach approximately" $1 trillion in revenue by 2030. "And I would be surprised if revenue is not greater than $1T in 2031," Musk added in a follow-up post. The company's 2025 financials showed revenue of $18.7 billion alongside a net loss approaching $5 billion.

Analyst opinion on the stock is divided. Among the skeptics, CFRA assigned the stock a sell rating on Friday, setting a 12-month target of $115 โ€” implying a roughly 29% retreat from where shares finished that day โ€” with analysts at the firm pointing to the company's aggressive expansion ambitions, lofty valuation, and heavy capital demands as key concerns. A June 8 research note from Morningstar put fair value at $63 a share, with analyst Nicolas Owens characterizing the stock as overvalued at current prices. NewStreet Research, by contrast, initiated coverage with a $165 price target.

"Can you look at this business, let's say, over a longer time frame than you would over most equities to justify to get to the current valuation? We think you can," James Ratzer, partner and senior analyst at NewStreet Research, said. "But we think you have to be looking out over a kind of 20 to 25-year time frame."

Paulina Roszkowska, a finance lecturer at Bayes Business School, argued that SpaceX's IPO prospectus left investors without adequate information on how the company is governed or the risks it faces in executing its plans. "Aside [from] those phrases about data centers in the orbit, which are high promises, if you are asking for 70, 80 billion contribution, I think that you owe investors a little bit more than poetry," Roszkowska said.

First-quarter capital spending more than doubled year over year, hitting $10.1 billion compared with $4.1 billion in the same stretch of 2025, with most of that outlay flowing into AI-related investments.

The IPO marked the largest in history, with SpaceX stock opening at $150 on Friday and touching an intraday high of $176.52. The company operates the Starlink satellite internet service and a fleet of reusable rockets, and acquired Elon Musk's AI venture xAI in February, adding xAI's data centers, its Grok AI models, and ownership of the social platform X to its portfolio.