SpaceX IPO: How to Invest in Practice

The SpaceX initial public offering has generated a level of excitement rarely seen in recent years. It must be said that the company founded by Elon Musk is today one of the most renowned private companies in the world, with activities ranging from launching rockets into space to satellite internet networks via Starlink.

But beyond the hype surrounding this IPO, many investors have very concrete questions. Can SpaceX shares really be purchased at the introductory price? Which brokers allow participation in the offering? Is it better to invest during the IPO or wait for the first trading days?

In this article, we will focus on the practical aspect of SpaceX’s IPO. How to participate in the offering, how an IPO unfolds, what traps to avoid, and what scenarios could be envisaged for the stock during its first days on Nasdaq.

How to buy SpaceX shares?

SpaceX’s stock market debut is approaching quickly, and many investors are already wondering how to buy the stock.

In practice, two options are available to you. The first is to participate directly in the IPO and try to obtain shares at the IPO price set by the company and its underwriting banks. The second option is to wait for the first trading day (June 12, 2026) and buy the stock directly on the stock market on the secondary market.

Can one participate in SpaceX’s IPO before the market opens?

Yes, it is possible!

To participate in SpaceX’s IPO, however, having a securities account with just any broker will not suffice. Not all platforms provide access to IPOs, and when they do, the terms can vary significantly from one broker to another.

As of the time of writing, Trade Republic, eToro, Revolut, BoursoBank and DEGIRO have notably announced that some of their clients may participate in the offering.

Note, however: being able to request shares does not automatically mean you will obtain them. In the event of very high demand, which is likely for a highly anticipated company like SpaceX, brokers may receive fewer shares than expected and allocate the available shares among their clients according to their own criteria. It is therefore recommended to consult directly the terms offered by your financial intermediary before submitting a participation request.

How to buy SpaceX stock on the first day?

If you do not participate in SpaceX’s IPO, or if your request is not granted, nothing will prevent you from buying the stock once it starts trading on Nasdaq. This is, in fact, the option chosen by the majority of individual investors.

Concretely, you simply need to have a securities account with a broker that provides access to U.S. stocks. Among the intermediaries regularly followed by Café de la Bourse, one can notably cite Bourse Direct, XTB, IG, Saxo Bank, Interactive Brokers, Fortuneo, Freedom24, or ProRealTime… all should offer the possibility to buy SpaceX shares SPCX from June 12, 2026 at the opening of U.S. markets.

Once Nasdaq opens on June 12, 2026, SpaceX stock can be purchased like any other U.S. equity. It is important to bear in mind that a highly anticipated IPO is often accompanied by high volatility. The price shown at the IPO does not necessarily correspond to the price at which you can buy your shares a few minutes later. Depending on the balance between buyers and sellers, the stock may open well above, or more rarely below, its introductory price.

Should you participate in SpaceX’s IPO?

For some investors, participating directly in the IPO can be a way to position themselves on SpaceX under the best possible conditions.

The main benefit is simple: if your application is accepted, you obtain shares at the introductory price set before the start of trading. Yet, when a company generates strong enthusiasm, that price can quickly become a thing of the past. It is not uncommon for the first trades to occur at levels well above, driven by demand from investors who could not participate in the offering.

This is precisely why some IPOs show spectacular gains on their very first trading session. For an investor convinced of the company’s potential and looking to build a long-term position, obtaining shares at the introductory price can therefore represent a meaningful advantage.

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However, it should be reminded that participating in an IPO does not guarantee stock allocation. When demand is very strong, as could be the case for SpaceX, retail investors often receive only a portion of the shares requested, or even no allocation at all.

Before taking a position, it is therefore important to understand that participating in the IPO and buying the stock after its listing follow two different logics: the first aims to try to obtain the best possible price, while the second generally prioritizes simplicity and a better view of the market’s initial reactions.

The advantages of buying the stock during SpaceX’s IPO

• Get shares at the introductory price set before the start of trading
• Avoid a potential price run-up during the initial trading
• Position yourself from the moment SpaceX hits the market as one of the most anticipated companies in recent years
• Potentially benefit from a rapid rise in the stock if demand is very strong after the market opens
• Participate in a deal generally reserved for a limited number of retail investors

Risks and drawbacks of buying during SpaceX’s IPO

• A demand to participate does not guarantee stock allocation.
• Retail investors often receive fewer shares than requested, or even no allocation.
• Not all brokers permit participation in the offering.
• Access conditions can vary depending on the financial intermediaries.
• It is impossible to know in advance how the market will react once the stock starts trading.
• The price might quickly fall below the introduction price if investors are disappointed by the valuation or prospects of the company.

Should you buy SpaceX on the first trading day?

Buying SpaceX shares on the first trading day is about adopting a different approach from that of an investor who participates in the IPO.

In this case, the objective is no longer to obtain shares at the introductory price, but to wait for the market to set its own first trading price between buyers and sellers. This solution is generally the simplest for individuals, since it requires no prior registration or allocation request with a broker participating in the offering.

It also has an often-underestimated advantage: the ability to observe investors’ initial reactions before making a decision. The initial trades allow you to see how the market receives the IPO, whether demand is there, and at what valuation level investors are willing to buy the stock.

In return, this approach entails accepting some uncertainty about the purchase price. When an IPO is highly anticipated, it is not uncommon for the first traded price to be significantly higher than the IPO price. Investors who buy in the early hours of trading may then pay a substantial premium compared to those who obtained shares during the IPO. Conversely, waiting for the market to open can also help avoid an overvalued IPO if initial enthusiasm fades quickly.

The advantages of buying SpaceX stock on the first trading day

• Accessible to almost all investors with a securities account granting access to Nasdaq
• No allocation or pre-booking procedure
• Ability to buy the number of shares you want, subject to available liquidity
• Opportunity to observe the first trades and early market indications before investing
• An interesting option for investors who could not participate in the IPO

Risks and drawbacks of buying SpaceX stock on the first trading day

• The price may open well above the introduction price.
• The first hours of trading are often marked by high volatility.
• Price gaps can be substantial between successive orders.
• The risk of succumbing to FOMO (Fear Of Missing Out) is especially high during highly publicized IPOs.
• Buying on day one can sometimes involve paying a large premium compared with investors who obtained shares during the IPO.
• It is often difficult to assess the fair valuation of a company during its early trading sessions.

How does an IPO actually unfold?

IPO introductions often make headlines in financial news, especially when they involve highly publicized companies like SpaceX. Yet behind the announcements of the introductory price and the first trades on Nasdaq lies a process that remains relatively unknown to the general public.

Before investing in an IPO, it is useful to understand what actually happens in the days and hours leading up to the first trades. This is precisely what we will examine in this part of the article.

Setting the SpaceX IPO price

Contrary to what one might think, the IPO price of a stock is not fixed arbitrarily by the company. In the weeks before an IPO, several steps are required to determine a price that is attractive to investors and consistent with the company’s valuation.

In SpaceX’s case, this process unfolded in several steps:

• The company and the lead underwriters define an indicative price range. This serves as the basis for negotiations with institutional investors.
• The banks subsequently meet with major investors (investment funds, insurers, pension funds, banks, etc.) to gauge their interest in the deal. This phase is often called the “roadshow.”
• Investors indicate the number of shares they would be willing to buy and at what price. The banks then build an order book to measure demand.
• If demand is very strong, the introductory price can be raised. Conversely, it can be lowered if investor interest is deemed insufficient.
• The final price is usually fixed a few days before the IPO, sometimes even the day before, after evaluating all the orders received.

The aim is to find a balance. A price set too high risks deterring investors and triggering a drop in the stock during the first trades. Conversely, a price too low can lead to an immediate surge in the stock, depriving the company of part of the capital it could have raised.

In SpaceX’s case, the introductory price was ultimately fixed at $135 per share, after several weeks of preparation and investor consultation.

Why can the first price of SpaceX stock be very different from the IPO price?

Many investors think a stock begins trading naturally at the price set during the IPO. In reality, the IPO price and the first traded price are two different things. The IPO price is the amount at which shares are allocated to investors who participated in the offering before the market opens. Once trading begins, it is the meeting of supply and demand that determines the first true trading price.

If a large number of investors want to buy the stock as soon as it hits the market and few shareholders are willing to sell, the first price can quickly rise well above the introduction price. Conversely, if enthusiasm is weaker than expected, the stock may open below its IPO price.

This is why some IPOs experience spectacular gaps in the first minutes of trading. In 2020, Airbnb, for example, was priced at $68 before opening at over $140 in its initial trades. Conversely, other highly anticipated IPOs have sometimes disappointed investors and quickly lost ground after their market debut.

For a retail investor, this means that obtaining shares at $135 during SpaceX’s IPO does not guarantee that the market will consider this price as the company’s fair value a few hours later. Once Nasdaq opens, it will be buyers and sellers who have the final say.

The role of market makers and underwriters

When we talk about an IPO, one often imagines that investors simply place buy and sell orders and that the market does the rest. In reality, several actors work behind the scenes to ensure the offer runs smoothly.

Before SpaceX’s arrival on Nasdaq, the banks responsible for the deal, called bookrunners, have the mission of evaluating investor interest, collecting buy intentions, and helping determine the IPO price. They are the link between the company and the major investors likely to participate in the IPO.

On the day of listing, another challenge arises: enabling trading to start as smoothly as possible. Because in a highly anticipated IPO, buyers are often far more numerous than sellers. In SpaceX’s case, it’s easy to imagine tens of thousands of investors wanting to buy the stock in the first minutes while very few shareholders are willing to sell.

That’s where market makers come into play. Their role is to facilitate trading by continuously displaying bid and ask prices. They do not control the stock price, but help to smooth trading when imbalances between buyers and sellers become large.

Possible scenarios for SpaceX stock after its IPO

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Predicting the evolution of SpaceX stock after its IPO is more a forward-looking exercise than an exact science. While many investors are convinced of the company’s long-term potential, no one can say with certainty how the market will react in the first hours, days, or even months of trading.

The history of markets also shows that the largest tech IPOs have followed very different trajectories. Some rose dramatically as soon as they hit the market, like Airbnb or Snowflake. Others had much more difficult starts, such as Facebook (now Meta), despite substantial media hype. Between these extremes, companies like Tesla or Alibaba have followed more gradual paths.

To better understand what SpaceX might experience, we compared the evolution of several emblematic IPOs from recent years. Of course, none of them is a perfect model for SpaceX, but they help illustrate the main scenarios investors might face after the IPO.

Comparative table of major tech IPOs

SpaceX IPO: a scenario of gradual rise like Tesla

When Tesla went public in 2010, it was far from the giant we know today. The market believed in the company’s potential, but remained cautious due to a business model that was still largely unprofitable. The stock advanced as investors gained confidence.

SpaceX IPO: a Facebook-like disappointment scenario

Facebook’s IPO was among the most anticipated in history. This anticipation, however, helped push valuations to very high levels. The initial results after the IPO and questions about monetizing social networks quickly cooled investors, leading to a drop in the stock in the months that followed. At the time, many investors believed Facebook’s valuation rested more on user growth than on its ability to fully monetize its audience.

SpaceX IPO: a mega IPO scenario like Alibaba

Alibaba debuted with solid profitability, a dominant market position, and strong international recognition. Investors already had good visibility into its business, which allowed a strong rise in the stock without triggering the euphoria seen in some more speculative IPOs.

SpaceX IPO: an underpriced IPO scenario like Airbnb

In a context still marked by the pandemic, Airbnb chose a relatively cautious approach to setting its IPO price. Demand proved far higher than expected, triggering an immediate surge in the price during the first trades. This scenario illustrates the risk of an IPO priced too low relative to investors’ appetite.

SpaceX IPO: a speculative scenario like Snowflake

Snowflake benefited from a particularly favorable environment for technology stocks and artificial intelligence. The interest of prestigious investors, including Berkshire Hathaway, reinforced market enthusiasm. All of this enabled a spectacular rise in the first trades, driven more by growth expectations than by the company’s immediate fundamentals.

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