SpaceX stock (Nasdaq: SPCX): the largest IPO in history, with lockup expirations still running through December

What's publicly reported

Can you buy SPCX?

Yes. SPCX is listed on Nasdaq and trades during normal market hours. Any standard brokerage — Fidelity, Schwab, E*Trade, Robinhood, TD Ameritrade, and others — can execute a buy or sell order. Check your brokerage or any major financial data site for the current live price; this page does not update in real time.

This page is educational, not a recommendation to buy or sell. What it can tell you factually: SPCX debuted at an unprecedented valuation on one of the most watched IPOs in market history; the staggered lockup means a structured wave of insider shares is eligible to sell through December 9; and the company's revenue comes primarily from Starlink subscriptions and government launch contracts, with figures available in SEC filings.

The lockup calendar: what's still coming for investors

Post-IPO lockups matter to investors because each unlock window allows insiders — employees, early investors, and pre-IPO shareholders — to sell shares for the first time. Concentrated selling into unlock windows can pressure the stock price. SpaceX's staggered structure spreads this risk across multiple events rather than one 180-day cliff.

As of late September 2026, the following windows are reported as still upcoming. Eligible percentages and exact dates depend on holder class and grant terms — these are reported figures from public IPO coverage:

The Q3 earnings-linked unlock and the December 9 full release together represent the largest remaining portion of locked shares. Investors should monitor SpaceX's SEC filings for precise share counts eligible at each window.²

What SpaceX does

SpaceX is a vertically integrated aerospace manufacturer and space transportation company. Its primary revenue sources as of the IPO:

• Starlink. The satellite internet constellation with millions of subscribers worldwide — both consumer and enterprise plans. Starlink is the company's primary recurring revenue source and the growth driver most frequently cited by analysts covering the stock.
• Launch services. Falcon 9, Falcon Heavy, and Starship launches for NASA, the Department of Defense, commercial satellite operators, and private customers. SpaceX holds a dominant share of global orbital launch capacity.
• Government contracts. Long-term contracts with NASA (Commercial Crew, Artemis HLS), DoD, and Space Force contribute stable revenue.

The company's financials became public in its SEC S-1 filing prior to the IPO. Audited revenue, EBITDA, and balance sheet data are available through SEC EDGAR.³

IPO context: how SpaceX got to $2 trillion

1. Pre-IPO tender era (before June 2026). SpaceX ran employee tender offers roughly twice a year — the primary liquidity mechanism for employees and early investors before the listing. These allowed insiders to realize partial liquidity at company-determined prices, typically at significant premiums to the 409A valuation.
2. IPO pricing, June 12, 2026. Priced at $135/share, raising ~$75 billion — surpassing any previous offering in history. The valuation reflected Starlink's subscriber base, launch-services backlog, and expectation of continued growth in commercial and government space infrastructure.¹
3. Day-one trading. SPCX opened and closed around $161, up roughly 19% from the offer price, establishing an initial public market valuation above $2 trillion. The first day's volume was among the highest recorded for any IPO.
4. Staggered lockup begins. Rather than a single 180-day gate, SpaceX implemented multiple unlock tranches tied to calendar days post-IPO and quarterly earnings releases — a structure that distributes insider-supply events across six months rather than concentrating them in one day.

If you hold SPCX as a SpaceX employee

The investor framing above covers only part of the SPCX picture. If you came to this page because you work at SpaceX and hold SPCX equity, the relevant questions are different:

• Your RSU settlement created ordinary income in 2026. The settlement value at the June 12 IPO price is W-2 income. The IRS supplemental withholding rate of 22% applies to supplemental wages under $1 million — far short of the real top-bracket rate for many SpaceX employees. The Q3 estimated tax deadline (September 15) and Q4 deadline (January 15, 2027) are when underpayment penalties are most commonly avoided or incurred.⁴
• Your unlock windows are the lockup tranches listed above. Each tranche is a brief window; decisions made in a panic rarely match the ones made in advance. Use the concentration calculator to model a multi-year glidepath and pre-commit your sell targets before the window opens.
• California vs Texas matters significantly. California taxes ordinary income at up to 13.3%, with no preferential rate for capital gains — combined federal plus California can exceed 50% on RSU settlement or options income. Texas has no state income tax. If you relocated between states, multi-state source-income allocation is relevant.
• Options holders now have a live reference price. ISO exercise triggers AMT preference income at the SPCX–strike spread; NQSO exercise creates ordinary income immediately. The ISO/AMT calculator and NQSO tax guide provide the framework.

The full six-step planning checklist — lot inventory, withholding gap sizing, Q3 estimated payment, concentration target, tranche pre-commitment, and 10b5-1 adoption timing — is in the SpaceX employee equity guide.

Frequently asked questions

When did SpaceX IPO?

June 12, 2026, on Nasdaq under ticker SPCX. Priced at $135 per share, the offering raised approximately $75 billion — the largest IPO on record — at a valuation above $2 trillion. Shares closed day one around $161.

What is the SpaceX stock ticker?

SPCX on Nasdaq. Available at any standard brokerage during regular market hours.

Can I buy SpaceX stock now?

Yes. SPCX is a public stock on Nasdaq. Any brokerage — Fidelity, Schwab, Robinhood, TD Ameritrade, E*Trade, and others — can execute the trade. Check a live financial data source for the current price; this page does not update in real time. This is educational information, not investment advice.

When does the SpaceX lockup expire?

SpaceX's lockup is staggered. As of late September 2026: Day 120 tranche (~Oct 10), Day 135 (~Oct 25), Q3 earnings-linked unlock (late Oct/early Nov — the largest remaining tranche), and the full Day 180 release on December 9, 2026.

What do SpaceX employees owe in taxes?

RSUs that settled at the IPO create ordinary income at the settlement price. The IRS 22% supplemental withholding rate undershoots the real marginal rate (35–37% federal + state) for high earners. California employees face up to ~50% combined. See the SpaceX employee guide for the full analysis.

Hold SPCX equity as a SpaceX employee? Plan before the December window closes.

Get matched with a fee-only fiduciary who works with post-IPO concentrated equity — SPCX lot strategy, lockup calendar planning, 10b5-1 design, and California vs Texas tax optimization. Free, no obligation.