SpaceX valuation tops 405 trillion yen on retail buying

2026-06-16

SpaceX shares extend gains after listing

Shares of U.S. space company SpaceX, which listed on the 12th, closed on the 15th 20% higher than the previous week at $192.50. Its market capitalization topped 400 trillion yen in yen terms and, on a closing basis, reached about $2.53 trillion, or about 405 trillion yen, according to QUICK and FactSet. That put it at No. 6 in the global ranking of listed companies, behind U.S. Amazon.com.

Retail buying led the advance

The gain widened near the end of trading. Driving the stock higher was an inflow of funds from retail investors betting on the company's growth prospects. SpaceX said on the 15th that it had issued about 83 million new shares. The total amount raised came to $85.7 billion, as demand in the initial public offering was strong and underwriters exercised an additional share option.

Up about 20% in two trading days

On its first day of trading on the 12th, SpaceX also finished 19% above the offering price of $135. The stock rose by about 20% for two straight trading days, and retail investors were the driving force. U.S. research firm VandResearch said in a report on the 15th that 'the only stock retail investors are paying attention to right now is SpaceX.' According to the firm, SpaceX accounted for more than 70% of net buying of U.S. equities on the 15th.

Concerns over profit taking

ProShares, a major U.S. exchange-traded fund provider, quickly launched an ETF designed to deliver twice SpaceX's daily price move. It could tap demand from retail investors who favor volatile stocks and may become a factor pushing up the share price through the ETF channel.

At the same time, it is hard to see how long the buying will continue. Retail investors who bought at the $135 IPO price have an incentive to sell and lock in profits after the recent gains. Fidelity Investments has told customers that selling an IPO stock within 15 days of listing could result in their being barred from applying for future IPOs. Once those restrictions are lifted around the 29th, sizeable selling could also emerge.

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