Space Exploration Technologies Corp. Class A Common Stock (NASDAQ:SPCX) builds rockets, operates the Starlink satellite network and now, after absorbing xAI and X earlier this year, is pushing into artificial intelligence infrastructure. Shares trade at 170.86 dollars, up 4.06% on the day, as investors digest the company's decision to raise 25 billion dollars in its first ever bond sale less than two weeks after going public.
At a Glance
- Price: 170.86 USD, up 4.06% on the day
- 52 week range: 21.62 to 225.64
- Market cap: 2.02 trillion dollars
- Dividend yield: 0.28%
- RSI: 75.96, deep in overbought territory
| Price | 170.86 USD |
|---|---|
| Day change | +6.67 (+4.06%) |
| 52-week range | 21.62 – 225.64 |
| Market cap | $2.02T |
| Dividend yield | 0.28% |
| RSI (14) | 75.96 |
| Volume | 82,048,144 |
A Bond Deal That Overshadowed the IPO Afterglow
On June 22, SpaceX priced five tranches of senior unsecured notes, with maturities stretching from 2031 out to 2056 and coupons ranging from 5.35% to 6.65%. Institutional buyers reportedly placed 90 billion dollars in orders for a deal that ended up being the largest investment grade bond sale of the year. Most of the proceeds will retire a 20 billion dollar bridge loan the company used in March to fund its absorption of xAI and X. What is left over is earmarked for Starship development, Starlink expansion and AI infrastructure spending.
Because the notes are unsecured, bondholders have no direct claim on rockets, satellites or Starlink hardware if the company runs into trouble. They sit alongside every other unsubordinated creditor, which is a meaningful distinction for anyone trying to gauge how the balance sheet is actually structured.
What the Numbers Say
Valuation is the first thing that stands out. With a market cap of 2.02 trillion dollars and a stock that has traded anywhere from 21.62 to 225.64 over the past year, the current 170.86 dollar price sits well below the 52 week high but far above where shares started that stretch. No P/E multiple is meaningfully attached to the stock yet, since the company has not built a revenue generating AI data center, a point CFRA analyst Keith Snyder underscored when he told Yahoo Finance that SpaceX needs to