Shares of SpaceX surged nearly 20 percent on Monday, marking the company’s second consecutive day of strong gains following its record-breaking initial public offering (IPO) last week. The stock closed at $192.50, up from the $150 opening price on Friday, bringing the company’s market valuation above $2 trillion.

The IPO, which took place on the Nasdaq in New York, raised $75 billion initially, making it the largest IPO in history. This figure increased to $85.7 billion after underwriters exercised a “greenshoe” option to purchase an additional 15 percent of the shares. SpaceX’s market capitalization has since expanded beyond $2 trillion, up from $1.75 trillion at the time of the offering.

The listing marked the first occasion on which retail investors in the United Kingdom were able to participate in an overseas IPO without the company having to file a separate UK prospectus. Financial platforms such as Hargreaves Lansdown, AJ Bell, Interactive Investor, and Revolut facilitated purchases by UK investors, who bought shares worth approximately £271 million. Demand in the UK was particularly high, with one investment platform reporting five times the usual interest seen in other UK IPOs over the past decade. Around 30 percent of participating retail investors in the UK reportedly did not previously hold shares in other public companies.

The enthusiasm coincides with growing interest in the space sector overall, as seen in rising trading volumes in space-focused exchange-traded funds (ETFs). Data from Peel Hunt showed a steady increase in retail investment activity in these funds in April and May, with market experts anticipating continued momentum following the SpaceX IPO.

SpaceX’s CEO Elon Musk has projected ambitious growth, stating on his social media platform that the company “might be able to reach” approximately $1 trillion in revenue by 2030, and that it would be surprising if revenues did not exceed that figure in 2031. This outlook represents a substantial increase from the $18.7 billion in revenue reported last year. However, the company has yet to turn a profit, recording a nearly $5 billion loss in 2025 alongside $20.7 billion in capital expenditures.

Some analysts caution that investor enthusiasm is driven more by expectations of future innovation than by current financial performance. Scott Martin, a partner at Kingsview Wealth Management, noted that many investors are betting on SpaceX’s potential to dominate emerging industries such as space infrastructure, Starlink satellite internet, and artificial intelligence, although these remain largely speculative at this stage.

Overall, the SpaceX IPO has generated significant interest globally, drawing investors with its unique position in the aerospace sector and the promise of long-term growth, even as market participants remain mindful of the risks inherent in backing a company still investing heavily in future technologies.