SpaceX Shares Rise 11% in Premarket After Friday IPO

SpaceX shares rose 11% in premarket trading on Tuesday after completing its IPO on Friday. The stock had already climbed 20% on its first full day of trading. Elon Musk posted on X on Sunday that the company "might be able to reach approximately" $1 trillion in revenue in 2030.

7 billion in revenue in 2025. 28 billion net loss in the first quarter of 2026. SpaceX was founded in 2002 and operates the Starlink satellite service while developing reusable rockets.

In February 2026, Musk merged SpaceX with his AI startup xAI. He had combined xAI with his social media platform X in 2025. CFRA initiated coverage of SpaceX stock on Friday with a sell rating and a 12-month price target of $115.

The firm cited the company's ambitious growth strategy, elevated valuation expectations, and significant capital intensity. Steve Westly, founder and managing partner of The Westly Group and a former board member of Tesla, said on CNBC's "Squawk Box Asia" on Monday that investors will expect results.

"Investors at SpaceX, I believe, will get pretty grumpy after three or four quarters if he doesn't meet some of the growth projections that they made in the S1," he said.

Dan Ives, global head of tech research at Wedbush Securities, told CNBC's "Europe Early Edition" on Tuesday that investors are focused on long-term positioning. "When you take a further step back, it's about this fourth industrial revolution, and investors are focused on where everything's heading, whether it's on ships, space, whether it comes to infrastructure, industrials," he said.