Quick Read – SpaceX’s $25B retail tranche alone matches Alibaba’s all-time global IPO record and nearly doubles Visa’s $17.9B 2008 U.S. record offering. – Ritter identifies Starlink’s low-cost launch flywheel as SpaceX’s real engine, with connectivity revenue up 50% and…
bscribers nearly doubling in 2025. – Ritter warns retail investors that at 40x sales and 170x EBITDA, even SpaceX’s dominance doesn’t guarantee a great stock. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Alibaba didn’t make the cut. Grab the names FREE today
University of Florida finance professor Jay Ritter, who runs the school’s IPO Initiative and is widely regarded as the dean of IPO research, told CNBC on June 11, 2026, that SpaceX’s pending offering will set a first-day underpricing record that dwarfs prior benchmarks held by Visa and Alibaba. “SpaceX is almost certainly going to blow them away,” Ritter said, referring to the pop between the IPO price and opening trade. The Elon Musk-led rocket and satellite company is priced at a $1.75 trillion valuation, which works out to roughly 40 times estimated 2026 sales and 170 times EBITDA. The company expects to raise about $75 billion in fresh capital from the IPO.
According to the SPCX ticker scheduled to begin trading on NASDAQ on June 12, 2026, the deal carries an unprecedented retail allocation that Ritter argues changes the math for individual investors. The Records Ritter Says Will Fall Visa (NYSE:V) priced its March 2008 IPO at what was then the largest U.S. offering in history, raising roughly $17.9 billion. Since its debut, the payments network has returned 2,505.64% on a split-adjusted basis, with the stock at $318.78 as of June 10, 2026.