SpaceX (SPCX) IPO: What Just Happened and What the Chart Says
16/06/2026
When I heard SpaceX was going public, my first thought wasn't about the stock price. It was about Starlink.
The Ukraine Army are using Starlink in the field. You can set it up anywhere, in the middle of nowhere with no cellphone signal, and suddenly have internet fast enough to run a video call or stream Netflix in 4K. That's the company behind this IPO. And three days ago, it finally landed on the stock market with it's IPO (initial public offering).
We Could Trade It Before It Even Listed
Here's something that surprised many people, and it's one of the reasons crypto trading is so different from traditional investing.
Weeks before SpaceX even listed on the stock market, both Hyperliquid and Binance opened a perpetual contract for SPCX. So what is that exactly?
Think of it like a bet on where you think a price is going, without actually owning the thing itself. You're not buying shares of SpaceX. You're trading a contract that follows what the market thinks SpaceX is worth. Like betting on the outcome of a game without being on the team.
The big thing about perpetuals is that you can trade them any time, including weekends. The stock market closes at 4pm on Friday and doesn't reopen until Monday morning. Perpetuals run 24 hours a day, 7 days a week. That's why you'll see charts on Hyperliquid and Binance moving on a Saturday when traditional markets are completely closed.
Now here's where it gets really interesting.
When the Hyperliquid and Binance perpetuals launched in May, traders were so excited about SpaceX going public that they drove the price all the way up to $224. The market was saying, this company is worth that much, maybe more.
But behind the scenes, the big institutional banks like Goldman Sachs and JPMorgan had already been working with SpaceX for weeks, doing the real valuation work. They agreed the IPO ('initial public offering' price or launch price for the first day of stock trading) would be $135. That's what they decided the company was actually worth at launch.
So what happened over the three weeks leading up to the IPO? The perpetual price slowly drifted down from $224 to meet the agreed IPO price of $135. The market was correcting itself in real time, like a balloon slowly deflating to its true size.
Then on June 12, the stock opened to the public at $150 and ran to $176. The perpetual and the stock are now telling the same story.
That whole sequence (perp at $224, corrects to $135, stock lists and climbs to $176) is one of the most educational things to happen in markets this year. It shows you exactly how price discovery works. The crowd guesses first. The institutions set the real price. And then the market finds its level from there.
Update: It Moved Overnight
I was about to post this blog yesterday when SPCX did something that made me stop and rewrite part of it.
Overnight, the perpetual contract on Binance jumped from around $161 all the way to $210. The reason? On Monday, June 15, the actual Nasdaq stock continued climbing (up another 6%), pushing SpaceX's total market value above $2 trillion. That also made Elon Musk the world's first trillionaire.
The perpetual, which moves faster and without the restrictions of stock market hours, ran well ahead of that. By the time most people woke up, it had already made a new high near $228.
This is one of the most valuable lessons this chart can teach you. What you're watching right now isn't just a price moving. It's the entire financial world reacting in real time to one of the biggest events in stock market history. The perpetual is where crypto traders express that reaction first, faster than any stock exchange can.
Two more things worth knowing about SpaceX that most people don't realise. First, the company holds nearly 19,000 Bitcoin on its balance sheet worth over a billion dollars. Second, alongside the Nasdaq listing, a tokenised version of the actual SpaceX stock was launched on the Solana blockchain, meaning you can now hold SpaceX shares on-chain with no leverage too.
The line between crypto and traditional finance is blurring faster than most people expected.
SpaceX had been private for 24 years, meaning ordinary people had no way to buy a piece of it. It belonged to Elon Musk and a small group of early investors while the rest of us could only watch from the sidelines. That all changed on June 12.
What Actually Happened
SpaceX listed on the Nasdaq under the ticker SPCX at $135 per share. Think of that as the opening price, the price the big banks decided the company was worth before anyone could trade it. And it raised $75 billion in a single day. To put that in perspective, that's more money raised in one day than most countries spend on education in a year. It's the biggest IPO in stock market history.
The demand was so high that most people who applied for shares through their bank or brokerage didn't even get them. It was like trying to buy Taylor Swift tickets; everyone wanted in, but there simply weren't enough to go around.
So when the doors opened on day one, the price jumped immediately to $150. Within two days, it hit $176. And as of this morning, the perpetual contract on Binance is trading at $210, approaching the original May high of $228 that the market set before the IPO even happened.
What the Chart Is Showing
Here's where it gets interesting for us as traders.
This chart is only three days old. There's no years of history to zoom out on, no long-term support and resistance to draw from. We're working with what we have.
But what we do have is meaningful.
The $135 IPO price is the most important level to know. That's where the biggest financial institutions in the world (Goldman Sachs, JPMorgan, Morgan Stanley) agreed the stock was worth buying. If price ever comes back to that level, you can expect buyers to show up. Think of it as the floor that the most powerful buyers in the world have already stamped their approval on.
The $150 level is where real-world trading began on day one. That's the first price the market itself agreed on, not the banks, actual buyers and sellers. Another important level.
And the high on the Nasdaq stock was $176. But the perpetual contract is now trading at $210 and reached a new high of $228 this morning, almost back to the peak it set in May before the IPO even happened.
Right now, the perpetual is running hot. Basically, too hot for me to touch right now based on the massive valuation of the company.
The Vibe Check
New listings are almost always messy in the first few weeks. Everyone who got IPO shares at $135 is sitting on a profit and deciding when to take it. People who missed out are trying to buy on the open market. Short-term traders are jumping in and out. And on the perpetual side, crypto traders are piling on top of all of that.
The volatility reading is maxed at 100%. Momentum is deep in overbought territory. Every signal I look for before entering a trade is saying the same thing - too hot, too fast, let it breathe.
That doesn't mean it can't go higher. It clearly can, and it has. But buying something that has more than doubled in a week with every indicator pinned at the ceiling is not how I trade. The setup hasn't formed yet. What I'm doing is watching, taking notes, and waiting.
Is This Worth Watching?
Without question.
SpaceX has Starlink, rockets, NASA contracts, and Elon Musk's name attached to it. It's going to be one of the most discussed stocks in the world for years. And now anyone with a brokerage account or a TradingView chart can follow it.
But because it has just been listed and everyone is watching it, patience is the smart move here. Let the excitement cool. Let early sellers take their profits. Let proper support and resistance levels form over the next few weeks. The story of this company is long. There's no rush to be first.
Mom Tip: Open SPCX on TradingView this week and just watch it. Don't try to trade it yet. Compare how fast and how far the candles are moving versus something like Gold or Bitcoin. New listings behave differently from assets that have been trading for years. Just noticing that difference is a real lesson.
Frequently Asked
When did SpaceX go public?
SpaceX listed on the Nasdaq on June 12, 2026 under the ticker SPCX. The IPO price was set at $135 per share by the institutional underwriters. The stock opened public trading at $150 and reached $176 within the first two days.
What is the ticker symbol for SpaceX?
SPCX, on the Nasdaq.
What was the SpaceX IPO price?
$135 per share. That's the price the big underwriting banks agreed on before the stock was available to the public. It then opened at $150 and ran higher from there.
What is a perpetual contract in simple terms?
A way to trade the price of an asset without owning it. You're not buying SpaceX shares, you're trading a contract that tracks what the market thinks SpaceX is worth. Perpetuals trade 24 hours a day, 7 days a week, with no expiry date.
Can you trade SpaceX (SPCX) 24/7?
The Nasdaq stock itself only trades during normal stock-market hours and is closed on weekends. The SPCX perpetual contracts on Hyperliquid or Binance trade 24/7, including weekends, which is why you see SPCX charts moving when the regular stock market is closed.
Related: How I Choose What To Trade Every Day · Tesla (TSLA) · Bitcoin (BTC)
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The content in this post is for educational purposes only and reflects my personal perspective on the market. It is not financial advice. Always do your own research before making any trading decisions. I am sharing my ideas, not telling you what to do with your money.
🤍 Mel
