SpaceX continued its remarkable post IPO rally on Wednesday, June 17, as investors weighed the company’s explosive growth potential against mounting valuation concerns.
The stock has surged approximately 50 percent since its June 12 IPO, making it one of the strongest public market debuts in recent history. On Tuesday, shares closed at $201.80, up 4.83 percent for the day, giving SpaceX an implied market capitalization of roughly $2.65 trillion.
That valuation places SpaceX above Amazon and within striking distance of Microsoft, making it one of the world’s most valuable publicly traded companies just days after entering the market. The launch of SpaceX options trading has added a new layer of excitement and uncertainty to the stock’s meteoric rise.
According to Susquehanna strategist Chris Murphy, options pricing currently implies about a 15 percent probability that SpaceX could climb another 50 percent by September. At the same time, the market is pricing in roughly a 13 percent chance that shares could lose half their value over the same period.
Murphy described the setup as unusually difficult for traders.
“The tails look too expensive to buy, but they also look too dangerous to sell,” he said, noting that investors are increasingly using options as protection against future supply risks, lockup expirations, and concerns that post IPO enthusiasm could fade.
The stock generated the fifth highest call option volume on its first day of options trading, highlighting intense speculative interest from investors.
Largest IPO in History Continues to Shock Wall Street
SpaceX entered public markets on June 12 in what became the largest IPO ever recorded. The company initially raised $75 billion through its offering. After underwriters exercised their greenshoe option on June 15, total proceeds climbed to $85.7 billion.
The rapid rise has surprised even veteran market participants. In after hours trading earlier this week, SpaceX briefly reached $229.85 per share, pushing its implied valuation above $3 trillion and temporarily surpassing both Amazon and Microsoft.
Although the stock later pulled back, Tuesday’s intraday high of $225.64 confirmed that investors remain willing to pay extraordinary premiums for exposure to the company.
The rally has also had a dramatic impact on global wealth rankings. As SpaceX’s market capitalization climbed beyond $2.7 trillion, Elon Musk’s ownership stake surged in value, restoring his position as the world’s richest person by an even wider margin.
The stock’s performance has reinforced investor confidence in Musk’s ability to create high growth businesses, following the success of Tesla, Starlink, Neuralink, and xAI.
The arrival of options trading has created additional buying pressure through market maker hedging activity.
When investors aggressively purchase call options, market makers often buy the underlying stock to manage risk. This process can amplify upward price movements, a phenomenon many analysts believe is currently helping drive SpaceX shares higher.
Leveraged ETFs tied to SpaceX reflected the strength of the move.
ProShares Ultra SpaceX ETF gained more than 10 percent on Tuesday, while GraniteShares 2x Long SpaceX Daily ETF climbed nearly 10 percent as investors sought amplified exposure to the rally.
Several other leveraged and inverse products are now trading on the NYSE, giving traders multiple ways to bet on future volatility. Despite the excitement, analysts are increasingly questioning whether SpaceX can grow fast enough to justify its valuation.
Investors are now focused on whether SpaceX can defend the $2.7 trillion valuation level and make another push toward the $3 trillion milestone. The recent high of $225.64 represents the next major resistance level, while the IPO price of $135 remains an important psychological support zone for long term investors.
Upcoming analyst coverage, future lockup expirations, index inclusion decisions, and options market activity are expected to be major drivers of the stock in the weeks ahead.
Conclusion
SpaceX remains one of the market’s hottest stocks as of Wednesday, June 17. While the company’s historic IPO and rapid ascent have fueled investor optimism, the options market is sending a clear message that volatility remains exceptionally high.
For now, bulls continue to dominate the narrative. However, with trillions of dollars in market value already priced in, SpaceX faces growing pressure to prove that its fundamentals can eventually match the extraordinary expectations surrounding the company.
