A SpaceX Falcon 9 rocket is on display outside the Space Exploration Technologies Corp. facility on March 26, 2026 in Hawthorne, California.
Patrick T. Fallon | AFP | Getty Images
Hello, my name is Leonie Kidd and I’m from London. Welcome to today’s Daily Open Newsletter.
Much has been said about this historic IPO, and it’s time to let the market decide. And today is that day.
As “Squawk Box Europe” anchor Steve Sedgwick opined on CNBC Newsroom this morning, there’s nothing you can say between now and the moment of the trade that will change people’s minds about SpaceX stock — you already know whether you like it or not.
Let’s see which direction the winds will blow for the launch at 09:30a Eastern time, 14:30 London time.
What you need to know today
SpaceX will complete the largest IPO in history when Elon Musk’s group goes public on the Nasdaq later today. At a price of $135 per share, the group has raised $75 billion at a valuation of $1.77 trillion. This would make SpaceX the seventh most valuable American company and likely make Musk the world’s first billionaire.
Follow CNBC’s live updates on SpaceX (SPCX) IPO
It also benefited other early SpaceX investors. The biggest beneficiaries include veteran stock picker Ron Barron, Cathie Wood’s Ark Investments, and mutual fund giant Fidelity Investments.
SpaceX is allocating a smaller portion of its blockbuster initial public offering to retail investors than expected, people familiar with the matter told CNBC’s Leslie Picker. “The reduced allocation suggests strong institutional demand for the stock as investors compete for access to the most talked-about IPOs in recent years. Even with the lower allocation, the retail tranche would still be among the largest U.S. IPOs of its size in history,” he wrote.
On Wall Street, stock futures are rising ahead of IPOs following solid gains on Thursday. Stocks turned positive after U.S. President Donald Trump said a peace deal would be signed with Iran in the “coming days,” a sharp U.S. shift toward Iran.
President Trump previously said he would attack Iran “very hard” and take over its oil infrastructure, including Kharg Island.
Speaking in the Oval Office late Thursday, President Trump said the United States had “just made a great settlement in our war with Iran,” subject to “finalization of the document.” He suggested the signing could happen as early as this weekend and could be led by J.D. Vance.
— Leonie Kidd
