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Key Points

SpaceX will be the largest IPO on record. The company priced its stock at $135 per share, which brings its initial market capitalization to $1.77 trillion. SpaceX's vertical integration is unique. No other company brings together the launch, connectivity, and compute technologies needed for orbital AI data centers. Historically, large IPO stocks have often declined during their first year on the market, and their long-term returns have frequently lagged the S&P 500.10 stocks we like better than Space Exploration Technologies ›

The S&P 500(SNPINDEX: ^GSPC) and Nasdaq Composite(NASDAQINDEX: ^IXIC) have declined modestly this week as Wall Street prepares for the SpaceX(NASDAQ: SPCX) IPO on Friday, June 12. The event will be historic for multiple reasons: The company will raise a record $75 billion at an unprecedented valuation of $1.77 trillion, making it the largest IPO of all time.

Investment banks involved in the deal report strong demand for SpaceX stock, priced at $135 per share and trading under the ticker SPCX. In fact, the IPO is four times oversubscribed, meaning demand exceeds the number of shares available by a factor of four, according to Reuters.

Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »

Should you buy the SpaceX IPO? In the last decade, the average IPO stock gained 25% on the first trading day, but large IPOs have historically dropped sharply during the first year. Here's what you should know.

Image source: The Motley Fool.

SpaceX is uniquely positioned to build and deploy orbital AI data centers

SpaceX (short for Space Exploration Technologies) breaks its business into three operating segments: space, connectivity, and artificial intelligence (AI).

1. Space

SpaceX has revolutionized space travel. In 2015, the Falcon 9 -- the world's first orbital-class rapidly reusable rocket -- successfully landed on Earth after being launched into space. No other company replicated that feat until Blue Origin in 2025. SpaceX aims to further cement its lead with the Starship system.

Starship will be the first fully and rapidly reusable spacecraft. It comprises a reusable first stage (Super Heavy booster) and second stage (the spacecraft), both engineered to return to the launch tower after flight, where they are caught in mid-air by mechanical arms. The company says Starship will reduce launch costs by 99% versus the historical average.

2. Connectivity

SpaceX could revolutionize the internet and mobile industries with Starlink, a constellation of about 10,000 broadband satellites that currently serves about 12 million subscribers. Starlink is already the largest satellite internet service, but it could eventually dominate the broader communications industry.

CEO Elon Musk says the Starlink constellation will ultimately expand tenfold to include more than 100,000 satellites. "If growth continues, Starlink will one day carry the majority of internet traffic. At that point, it is the internet and everything just connects to Starlink."

3. Artificial intelligence

SpaceX recently merged with xAI, an artificial intelligence research lab. The registration statement (Form S-1) states: "We own and operate what we believe to be the largest AI training data center clusters on Earth, including Colossus I and Colossus II." xAI also develops Grok frontier models and enterprise AI applications.

The company recently signed two big deals. It will provide compute capacity to Anthropic for $1.25 billion per month, and it will provide compute capacity to Alphabet's Google for $920 million per month. Those deals are worth $26 billion per year, which represents a material acceleration from the $3.2 billion in sales xAI reported in 2025.

Here's the big picture: SpaceX is unique in its vertical integration. No other company brings together the launch capacity, connectivity technology, and AI infrastructure needed to build and run orbital data centers. Musk believes orbital data centers (i.e., powered by the sun and cooled by space) will solve the energy constraints of terrestrial data centers.

Collectively, SpaceX estimates its total addressable market at $28.5 trillion. That figure includes $370 billion from space mission and launch services, $1.6 trillion from Starlink broadband and mobile services, and $26.5 trillion from AI infrastructure and applications.

History says SpaceX's stock will drop sharply during its first year on the public market

SpaceX will be the largest IPO on record, with an initial market capitalization of $1.77 trillion. That alone is not an issue, but it implies an absurdly expensive valuation. The company reported $19.3 billion in revenue in the past year, bringing its price-to-sales (P/S) ratio to 92.

For context, Palantir Technologies is the most expensive stock in the S&P 500 at 63 times sales. But SpaceX is going public at a valuation 46% higher, leaving plenty of downside risk, especially since large IPOs have historically declined in their first year on the market.

The chart below shows how the 10 largest U.S. IPO stocks (by market value at the IPO price) performed during their first year on the market. 10 Largest U.S. IPO Stocks 1-Year Return Post-IPO Meta Platforms (22%) Uber Technologies (25%) Venture Global (60%) United Parcel Service 11% Coupang (45%) Mondelez International (8%) Coinbase Global (34%) General Motors (31%) Visa 13% Kenvue (12%) Average (21%)

Data source: Barron's, YCharts. The chart shows how the top 10 U.S. IPO stocks performed during their first year on the public market.

As shown above, the 10 largest U.S. IPO stocks declined by an average of 21% during their first year. That may surprise readers, as IPO stocks (especially highly anticipated ones like SpaceX) frequently skyrocket on the first trading day. But they often give back those gains and then some.

More importantly, disappointing post-IPO returns are not limited to a single year for companies that go public with large market caps. The 10 largest U.S. IPO stocks (shown in the chart above) have underperformed the S&P 500 by an average of 99 percentage points since listing shares.

So, should you buy the SpaceX IPO? My answer is no. History suggests the stock could drop sharply in its first year and may underperform the S&P 500 in the long run. That doesn't mean you should forget about SpaceX. Instead, be patient and wait for more attractive buying opportunities.

Should you buy stock in Space Exploration Technologies right now?

Before you buy stock in Space Exploration Technologies, consider this:

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Trevor Jennewine has positions in Palantir Technologies and Visa. The Motley Fool has positions in and recommends Alphabet, Kenvue, Meta Platforms, Palantir Technologies, Uber Technologies, United Parcel Service, and Visa. The Motley Fool recommends Coinbase Global, Coupang, and General Motors. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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By Abhirup Roy and Kalea Hall

SAN FRANCISCO, June 10 (Reuters) - General Motors may scrap plans to use a lower-cost, iron-based battery chemistry that many automakers are using to cut electric-vehicle costs, GM's ‌head of battery technology said.

The Detroit automaker had said it planned to develop lithium-iron phosphate, or ‌LFP, batteries for use in future EV models, and would begin making those batteries in late 2027 at a jointly owned plant in ​Tennessee.

But GM battery chief Kurt Kelty told Reuters that GM instead is focused on developing a different battery chemistry, lithium manganese-rich, or LMR, which the company has said costs about the same as LFP to make in the U.S., but can store more energy for the same weight and size.

Kelty said GM may no longer pursue LFP for use ‌in EVs. He said the Tennessee factory ⁠will start production this month of LFP cells, but those are for energy storage systems.

"There is a possibility where LFP does not earn its way into our portfolio," Kelty ⁠said following a GM event in San Francisco on Tuesday, calling LMR the "workhorse" for GM. "That's where we're going to be using the big volume," he said.

GM has been working on LMR for over a decade. Its crosstown rival, Ford Motor, last ​year ​said it was working to scale LMR chemistry for use ​in future EVs.

Despite the chemistry's advantages, including reducing ‌reliance on critical minerals, technical challenges such as the battery weakening with use mean mass adoption is not expected anytime soon, S&P Global said last year.

RIVALS EMBRACE LFP CHEMISTRY

Bypassing LFP would mark a significant departure from the battery strategies of many of GM's competitors.

Chinese carmakers pioneered the use of the lower-cost LFP chemistry, which is less dense – resulting in shorter driving ranges – but also cheaper and considered safer and more durable than the nickel-rich batteries used ‌by many U.S. and European automakers.

Many global automakers, including Tesla, ​Rivian and Ford Motor, have added LFP-based EVs to cut costs ​and offer more-affordable electric options as demand for ​battery-powered cars slows in the U.S.

GM has released more than a dozen U.S. EVs over ‌the past few years, all using a more ​powerful nickel-rich chemistry. But its ​recently launched Chevrolet Bolt, its least expensive EV for the U.S. market, uses LFP cells from Chinese battery giant CATL, Reuters and other media outlets have reported.

GM said last year its goal was to ​start commercial production of LMR cells at ‌a U.S. facility in 2028. Kelty did not confirm if that date is still the goal, ​but said LMR "is on schedule with development."

(Reporting by Abhirup Roy in San Francisco and Kalea Hall ​in Detroit; Editing by Mike Colias and Matthew Lewis)

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One of the important takeaways from MP Materials' MP first-quarter 2026 results may be the rapid growth of its Magnetics segment. The company reported Magnetics revenues of $21.1 million in the quarter, a more than fourfold increase from the prior-year period's $5.2 million.

Segment adjusted EBITDA reached $9.6 million compared with $0.49 million in the year-ago quarter, reflecting growing profitability as the production of magnetic precursor products continues to scale.

The Magnetics segment began generating revenues from the sales of magnetic precursor products to General Motors GM in the first quarter of 2025. Deliveries commenced in March 2025, contributing $5.2 million to first-quarter 2025 revenues. The segment commenced the manufacturing of neodymium-iron-boron (NdFeB) permanent magnets in December 2025.

The trend is significant because it demonstrates MP Materials' transition from being primarily a mining company to becoming an integrated manufacturer of rare-earth-based products. Historically, the company generated revenues largely from the sale of rare earth materials. Today, MP is increasingly moving downstream into the production of magnetic materials.

At the center of its efforts is its Fort Worth, TX facility (Independence), which serves as both the production hub and engineering headquarters for the segment. In April 2022, the company entered into a long-term agreement to supply magnets and precursor products manufactured at the Independence Facility to General Motors as its foundational customer.

In July 2025, the company entered into a landmark long-term supply agreement with Apple AAPL for the development, manufacture and supply of magnets from the Independence Facility, as well as the development and installation of scaled recycling capabilities at Mountain Pass to produce the contained rare earths from post-industrial and post-consumer recycled rare earth feedstocks. The company is also pursuing sales opportunities to other customers for its future magnet products.

Management's confidence in this business is evident from its ongoing investments. During the first quarter, MP expanded operations at its Independence facility and broke ground on its "10X" magnetics facility. Once completed and scaled, it will produce an estimated 7,000 MTs of magnets per year, taking MP Materials' overall U.S. rare earth magnet production capacity to an estimated 10,000 MTs per year. In addition, the company is preparing to commission heavy rare earth separation capabilities at Mountain Pass, enabling a more complete domestic supply chain for permanent magnets.

Story Continues

MP's Price Performance, Valuation & Estimates

MP Materials' shares have gained 99.5% in a year compared with the industry's 42.2% growth.Zacks Investment Research

MP is trading at a forward 12-month price/sales multiple of 19.21X, a significant premium to the industry's 1.60X.Zacks Investment Research

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for MP Materials' 2026 earnings is pegged at 16 cents per share, indicating an improvement from the loss of 24 cents in 2025. The estimate for 2027 is $1.06 per share, indicating a 562.5% year-over-year improvement.Zacks Investment Research

Image Source: Zacks Investment Research

The estimate for both 2026 and 2027 has, however, moved down in the past 60 days, as shown in the chart below.Zacks Investment Research

Image Source: Zacks Investment Research

The company currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Apple Inc. (AAPL) : Free Stock Analysis Report

General Motors Company (GM) : Free Stock Analysis Report

MP Materials Corp. (MP) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

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In the latest installment of Yahoo Finance's ETF Report, TMX VettaFi head of research Todd Rosenbluth outlines what SpaceX's (SPAX.PVT) imminent IPO could mean for space ETFs, broader market indexes, and investors' portfolios.

SpaceX is expected to go public on the Nasdaq this Friday, June 12, under the ticker SPCX, with the space operator aiming to price its IPO at $135 per share.

Video Transcript

00:00 Speaker A

The ETF market is set for liftoff as SpaceX goes public. Space themed funds and single stock ETFs offerings are set to surge ahead of Friday's IPO and on the day itself, there'll be a launch of a number of leveraged ETFs, which I believe is a first on on that single stock. Joining me now, Todd Rosenbluth, Vettafi's head of research for this week's ETF report brought to you by Pimco. Todd, um, you said in anticipation of us talking, the SpaceX IPO is impacting the ETF market more than anything I have seen in my 20 plus years in the industry.

00:46 Todd Rosenbluth

what we're seeing is that index providers have gone through a consultation to determine whether or not to add SpaceX in to their index strategies. Some of them are doing so. uh, the Russell 1,000 ETF, uh based products will soon have a small slice of SpaceX, the Nasdaq 100, which is the Qs, will have an even larger slice of it. We at Vetify are an index provider and it will be part of our broad benchmark as well as the Vetify space index.

01:17 Todd Rosenbluth

So single stock leverage ETFs are risky. They can be rewarding also, but they are risky for people to be investing in. A single stock leverage ETF on a company that just became public and that is going to have some volatility is going to also be risky. There'll be some potential rewards. So anybody that's considering these uh these pending products because they haven't yet launched, should just be aware, they're going to move in the right or the wrong direction depending upon on how SpaceX ultimately moves.

01:50 Todd Rosenbluth

Whereas broadly diversified ETFs, like a space ETF or a broad market ETF, you're going to get the benefits of diversification across other individual companies.

02:00 Speaker A

Is this good for the ETF business on balance, this this whole juggernat or is it not?

02:08 Todd Rosenbluth

So I think it's a good thing. I think more people are going to be excited about this individual company that's coming public. It's not going to be that big a waiting in most of the ETFs. So, even though this is going to be a trillion dollar plus valuation company in all likelihood when it comes to market, based on a limited float, it's only going to be the size of General Motors within diversified portfolios. I know you were talking about GM earlier in the show. So, having exposure to SpaceX as part of a broader portfolio makes a lot of sense.

02:45 Todd Rosenbluth

I'm excited that it's coming to market. You do need to be mindful that any individual company if it's too large a waiting in a portfolio, is going to move your overall portfolio, good or bad.

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Die Fluence Energy Inc. (Nasdaq: FLNC) hat eine unabhängige Überprüfung durch das Energieversicherungsunternehmen DNV bestätigt, dass die Batteriespeicherkraftwerke von 50 MW und größer eine Verfügbarkeit von 99,3% aufweisen. Dies bestätigt die zuvor gemeldete Verfügbarkeit von 98,7% der globalen Flotte von Fluence und kommt als Kunden und Investoren nach standardisierten, drittenspartevalidierten Leistungsmetriken suchen.

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Für Jahre bot Tesla (NASDAQ: TSLA) Investoren etwas Einzigartiges: einen öffentlichen Markt, um neben dem CEO Elon Musks technologischen Ambitionen zu investieren. ... Wenn eine SpaceX-IPO kommt, könnte sie die Bewertung von Tesla ändern.

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SpaceX plant einen Börsengang im Wert von 75 Milliarden US-Dollar. Das würde den Rekord von Uber Technologies überbieten. Wir vergleichen die größten IPOs in der Geschichte und ihre Entwicklung nach dem Börsengang.

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Global führende Unternehmen werden für ihre innovative Leistung, Agilität und messbare Auswirkungen ausgezeichnet. Die Preisträger haben durch die Verwendung des Kinaxis Maestro-Plattformen ihre Supply Chain zu einem Wettbewerbsvorteil gemacht.

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Wenn man heute die wöchentlichen Änderungen der ausgegebenen Aktien unter den von ETF Channel abgedeckten Universum betrachtet, fällt ein hervorragender Standort darunter der Dimensional US Core Equity 2 ETF (Symbol: DFAC), wo wir einen ungefähren Ausfluss von etwa 431,6 Millionen Dollar festgestellt haben -- das ist eine Abnahme um 0,9% wöchentlich (von 1.067.500.000 auf 1.057.800.000). Unter den größten zugrunde liegenden Komponenten des DFAC, in der heutigen Handelsgeschäften American Express Co. (Symbol: AXP) ist um etwa 2,5% zurückgegangen, General Motors Co (Symbol: GM) ist um etwa 1,3% gestiegen und CSX Corp (Symbol: CSX) ist höher um etwa 1%. Für eine vollständige Liste der Positionen besuchen Sie bitte die DFAC Holdings-Seite » Die folgende Grafik zeigt das einjährige Preisverhalten von DFAC im Vergleich zu seinem 200-tägigen Durchschnittswert:

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Zum Abschluss der Q1-Erträge analysieren wir die Zahlen und Schlüsselerkenntnisse für die Automobilhersteller, einschließlich General Motors (NYSE:GM) und seiner Konkurrenten.

Die Herstellung von Autos erfordert viel Kapital und technisches Know-how. Die Zugangsbarrieren sind daher hoch, und Autohersteller mit Skaleneffekten können eine starke wirtschaftliche Befestigung aufweisen. Allerdings schützt dies sie nicht vor neuen Eingreifern, da Elektrofahrzeuge (EVs) den Markt umgestoßen haben und die etablierten Hersteller dazu gezwungen haben, nicht nur mit neuartigen EV-ersten Konkurrenten zu konkurrieren, sondern auch darüber nachzudenken, wie viel sie in diese disruptiven Technologien investieren möchten, die wahrscheinlich ihre Legacy-Angebote erodieren werden.

Die 10 Automobilhersteller, die wir verfolgen, berichteten über ein sehr starkes Q1. Als Gruppe übertrafen sie die von Analysten erwartete Umsatzprognose um 0,7%.

Glücklicherweise haben die Aktien der Unternehmen eine resiliente Entwicklung gezeigt, da sie durchschnittlich seit den neuesten Earnings-Ergebnissen um 9,1% gestiegen sind.