Venture capitalist Tim Draper praised SpaceX’s (NASDAQ:SPCX) record initial public offering as a defining moment for Elon Musk and private innovation, saying the listing showed how founders can force industries to imagine a different future.
Draper Says Musk Revived Transportation And Space
"My take on @SpaceX going public: $75 billion raised. Largest IPO in history. Stock up 19% on day one," Draper wrote on X, referring to Space Exploration Technologies Corp. He said Musk "brought new life to the space and transportation markets" after years in which legacy automakers and governments set the pace.
Draper argued that Tesla Inc. (NASDAQ:TSLA) challenged the old "big three" auto model and SpaceX turned space from a government-led field into one full of "extraordinary Star Trekkian possibilities."
Founder Vision Drives Biggest Returns
"The biggest returns don’t come from the financial models, but rather from the moment a founder forces the world to see something differently," Draper wrote.
"Elon did that with PayPal (NASDAQ:PYPL). He did it with Tesla and he just did it again with SpaceX. I think Elon and all those entrepreneurs who take on the status quo are going to really transform our universes in the next century."
Earlier this week, Draper also said SpaceX’s IPO was not only a market milestone but also a reason to rethink assumptions about space and energy. "In the wake of the SpaceX IPO, with space being the final frontier, I think it is time for science to rethink their fundamental theories," he wrote.
IPO Frenzy Turns Into Early Volatility Test
SpaceX went public on June 12, raising about $75 billion in the largest IPO on record. The stock opened above its $135 IPO price and climbed as investors rushed into the listing.
The rally took another jolt after SpaceX agreed to buy the parent of AI coding startup Cursor, Anysphere, in an all-stock deal valued at about $60 billion.
Excitement also spilled into options trading, where contracts on SpaceX drew heavy activity. But the stock later pulled back as the Federal Reserve signaled a more hawkish 2026 rate outlook, pressuring high-valuation growth names.
In seven days, SPCX went from $135 to $225 and back to $174, a 67% surge followed by a 22% drop before SpaceX filed its first public earnings report.
Price Action: SpaceX shares closed 3.56% lower at $185.00 on Thursday, dropping a further 1.84% to $181.60 in after-hours trading.
According to Benzinga Edge Rankings, SpaceX stock provides a favorable price trend in the Short, Medium and Long term.
Photo Courtesy: Samuel Boivin on Shutterstock.com
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