SpaceX rally extends as Elon Musk’s $1 trillion revenue call draws retail and crypto traders
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SpaceX shares rose in early market trading Monday, extending gains from its record IPO debut after Elon Musk said the company could reach $1 trillion in annual revenue by the end of the decade.
Key facts
Meanwhile, Brett Winton, chief futurist at Ark Invest, has taken a more aggressive long-term view, saying Starlink and Starshield could generate more than $1 trillion in excess cash through 2035
Loop Capital has the highest target at $349, followed by Baird at $320 and Bernstein at $310
The move followed a strong first session in which SpaceX priced its initial public offering at $135 a share, opened at $150, and closed at $161.11, giving the company a market value of about $2.2
The company’s market value of over $2 trillion put it behind Amazon, valued at about $2.54 trillion, and ahead of Broadcom, valued at about $1.81 trillion
Summary
01 SpaceX shares extended gains after Elon Musk said the company could reach $1 trillion in annual revenue by 2030. 02 The rally drew retail buyers and crypto traders, with futures volume and tokenized equity activity surging around the listing. 03 Investors still face a wide gap between current revenue, heavy spending, and Musk's target, leaving valuation scrutiny unresolved. Yahoo Finance data show the stock traded near $170, up about 6% from Friday’s close.