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The first half of 2026 is over, and nothing has sparked more excitement on Wall Street than blockbuster initial public offerings (IPOs). Investors watched AI chipmaker Cerebras Systems (CBRS) make a stunning debut with its IPO in May, proving that demand for next-generation artificial intelligence (AI) companies remains exceptionally strong. Then came Elon Musk’s SpaceX (SPCX), which has long been one of the world's most sought-after private companies. The long-awaited IPO became the largest in history. The company priced its offering at $135 per share on June 11 and began trading on the Nasdaq under the ticker SPCX on June 12, raising $75 billion at an initial valuation of roughly $1.77 trillion.
The stock surged 19% on its debut, briefly lifting SpaceX's market cap above $2 trillion. However, shares have now pulled back amid broader concerns about lofty valuations and the company's aggressive spending plans. SPCX stock is still seeing quite a lot of volatility and is down another 6% as of this writing. It is presently trading just a little above its all-time low price.
