The biggest IPO in stock market history starts trading Thursday. And for the first time ever, your Robinhood account might actually get you in at the ground floor.
SpaceX — Elon Musk's rocket and satellite company — lists on the Nasdaq under ticker SPCX on June 12, 2026, at a fixed price of $135 per share. The target valuation is $1.75 trillion, and the company is looking to raise $75 billion in a single offering. That's more than double what Saudi Aramco raised in 2019 — the previous record — and more than triple what Alibaba raised in 2014.
But here's what actually matters for regular Americans: SpaceX is giving retail investors a bigger cut than any mega-IPO in history. And most people still don't know exactly how to get access before Thursday morning.
This is your complete guide.
What Is SpaceX, Really? (It's Not Just Rockets Anymore)
Most Americans think of SpaceX as the company that launches astronauts to the International Space Station and lands boosters on drone ships. That's accurate — but it's maybe 30% of the story in 2026. The SpaceX that's going public is three businesses in one:- Launch Services: Falcon 9 is the most-flown rocket in history. SpaceX holds dominant market share in both commercial and government launches. NASA, the Pentagon, and private satellite operators all pay for Falcon 9 rides.
- Starlink: The satellite internet division is the real money machine. With over 9 million subscribers worldwide, Starlink is projected to generate $15–16 billion in revenue in 2025 alone — and it was already profitable last quarter at $1.19 billion in operating income.
- SpaceXAI (formerly xAI): In February 2026, SpaceX acquired Elon Musk's AI company xAI — which owns Grok and the X platform — in an all-stock deal valued at roughly $250 billion. The combined division generated $818 million in Q1 2026 revenue.
The Numbers Behind the $1.75 Trillion Valuation
Before you buy anything, you should understand what you're actually paying for. Here are the key financials from SpaceX's public S-1 filing:- Q1 2026 revenue: $4.7 billion
- Annualized run rate: ~$18–22 billion
- 2025 net loss: Reported by Reuters — SpaceX was not yet profitable at the company level, though Starlink was
- Valuation multiple: At $1.75 trillion, SPCX trades at roughly 109–116x trailing revenue
SPCX Stock: How to Buy on Robinhood, Fidelity, and Schwab
Here's the part everyone is searching for — and the answer is more nuanced than most articles admit. SpaceX made an unusual move: it explicitly named five retail brokerage platforms in its S-1 filing as channels for IPO share allocation. Those five platforms are:- ✅ Robinhood — No minimum account balance required
- ✅ Fidelity — Account eligibility varies; check your account status
- ✅ Charles Schwab — Requires $100,000+ in eligible assets
- ✅ SoFi — No stated minimum, open to eligible members
- ✅ E*TRADE (Morgan Stanley) — Available to eligible customers
- Open your app on any of the five platforms above
- Search "SPCX" or "SpaceX IPO" in the app
- Submit an Indication of Interest (IOI) — this is not a guaranteed purchase, just a request
- The request window is open during the roadshow (June 8–11)
- Pricing is June 11 after market close at $135/share
- Trading begins June 12 at market open
Schwab vs Robinhood vs Fidelity: Which Platform Is Best for SPCX?
Each platform has slightly different requirements and processes: Robinhood: The easiest entry point. No minimum balance. Submit your IOI directly in the app. Popular with younger investors and first-time IPO participants. Keep in mind: Robinhood has had execution issues during high-volume events (GameStop, etc). Have a backup plan. Fidelity: More institutional-grade execution. Better for larger orders. Check "IPO & New Issues" under the Brokerage tab. Eligibility depends on your account type and trading history. Charles Schwab: Requires $100,000+ in eligible assets to participate in the IPO allocation. Visit schwab.com/ipo and submit a Conditional Offer to Purchase (COTP) before 4 PM Eastern on the deadline day. If you meet the threshold, Schwab generally has solid IPO access. SoFi and E*TRADE: Both confirmed channels with no stated minimum. Check their apps for the SPCX offering directly. Bottom line for most people: If you're a Robinhood or SoFi user with a smaller account, those are your best bets for IPO price access. If you're at Schwab or Fidelity with a larger account, those platforms offer more institutional-quality execution.The Musk Factor: The Thing Nobody Wants to Say Out Loud
Buying SPCX is, in large part, a bet on Elon Musk continuing to run SpaceX effectively. SpaceX has a dual-class share structure. Musk controls the company regardless of what public shareholders think. If you buy SPCX, you have essentially zero influence over how the company is run. You're along for the ride — in every sense. That's worked out historically for Tesla investors. It has also meant some wild swings based on Musk's personal behavior, political statements, and X posts. One specific risk analysts are watching: When SpaceX filed its confidential IPO paperwork on April 1, 2026, Tesla stock dropped 10.5% over the following ten trading days. The market read it as a signal that capital would flow from Tesla to SpaceX, splitting the "Musk-bull" investor base. On June 12, when SPCX starts trading, you could see the same dynamic play out in real time. If you own Tesla, watch it closely that morning.ETF Alternative: How to Get SpaceX Exposure Without the IPO Drama
Not comfortable chasing an IPO on day one? There are other ways to get SpaceX exposure with less volatility risk:- ARK Venture Fund (ARKVX): Cathie Wood's fund holds SpaceX as one of its largest positions. Available through most brokerages.
- Fidelity Contrafund (FCNTX): One of the oldest growth funds in the industry. Holds ~$3.5 billion in SpaceX as of 2025. Managed by Will Danoff.
- Space Innovators ETF ($NASA): Themed ETF with ~6.7% SpaceX allocation alongside Rocket Lab and AST SpaceMobile.
- Invesco QQQ Trust: Musk has reportedly pushed for SPCX to be immediately included in the Nasdaq-100 index, which QQQ tracks. If it happens, QQQ holders get automatic exposure.
Should You Actually Buy SPCX on Day One?
This is the question everyone wants answered, and the honest answer is: it depends entirely on your situation. Wait if: You've never invested in an IPO before. You're investing money you can't afford to lose. You're buying purely because of hype. You have a short time horizon. Kiplinger's analysts put it plainly: "The safest course may be to wait for companies to settle in some months after their debut, after one or two quarterly earnings reports." Consider participating if: You understand the risks, you're investing for 5–10+ years, the position is a small part of a diversified portfolio, and you genuinely believe in Starlink's growth story. First-day IPO trading is notoriously volatile. The stock could open at $150 and hit $200 before noon — or open at $135, sell off to $110, and spend the rest of the week recovering. Both scenarios are plausible given the demand dynamics here. The one thing that's certain: This IPO is historic regardless of what the stock does on day one. It's the largest in market history. Retail investors have never had access like this before. And whether you buy Thursday or wait until September, SPCX is going to be one of the most closely watched stocks of the decade.Key Dates to Bookmark
- 📅 June 8–10: IPO roadshow — SpaceX executives pitch to investors
- 📅 June 11: Final pricing at $135/share confirmed after market close
- 📅 June 12: SPCX begins trading on Nasdaq — first day open market
- 📅 June 12, 9:30 AM ET: Market opens — first trades execute
This article is for informational purposes only and does not constitute financial advice. Ampick is not a financial advisor. Always consult a licensed professional before making investment decisions. Follow Ampick for live SPCX coverage starting June 12.
Related reading: Anthropic IPO 2026: What the $965 Billion Valuation Means for Every American — the other massive AI IPO coming this fall.
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