SpaceX gains 6% in premarket after record debut

SpaceX shares gained approximately 6% in premarket trading on Monday, following a record-breaking debut on the Nasdaq last week, where the stock surged 19% to close at $161. This initial public offering (IPO) is now the largest in history, pushing the company's valuation above $2 trillion. Despite this impressive performance, analysts are divided; CFRA has issued a 'sell' rating with a target of $115, citing concerns over SpaceX's ambitious growth strategy and high capital intensity, while New Street Research remains optimistic with a target of $165. The company, which operates the Starlink satellite internet service, reported significant capital expenditures of $10.1 billion in the first quarter of 2026, primarily directed towards artificial intelligence initiatives.