Retail investors aren’t waiting until June to climb aboard the SpaceX (SPAX.PVT) IPO.
Inside the action: Retail investors are increasingly blasting into space-themed stocks and ETFs ahead of a potential SpaceX IPO, according to Vanda Research.
The bullish activity is taking several forms.
First is through space-themed ETFs. Retail investors buying across a basket of space-themed ETFs are now running at their strongest pace since 2021, per Vanda Research. The Procure Space ETF (UFO) is emerging as a standout favorite.
“UFO’s 1 million in retail net buying peaked at a record $6.2 million on April 30 and still sits at an elevated $3.8 million currently – roughly 3times stronger than prior peaks,” Vanda pointed out.
Also catching strong interest are “picks and shovels” space names.
“Redwire (RDW) — which provides satellite infrastructure and spacecraft components – has emerged as the clearest retail favourite, attracting $41.1 million of retail net buying over the last 20 trading days,” Vanda said. “Retail appetite is picking up in smaller and more speculative space names including Sidus Space (SIDU), Satellogic (SATL) and Planet Labs (PL), reinforcing the broadening retail interest across the space trade beyond the more established proxy names.“
The nuts and bolts of the SpaceX IPO: SpaceX is reportedly eyeing a June 11 pricing for its IPO and a June 12 Nasdaq (^IXIC) listing. Goldman Sachs is leading the deal, with 21 banks behind it. In an almost unheard-of move, retail investors are earmarked for 30% of the float, three times the standard.
The Elon Musk-led company is aiming for a $1.75 trillion valuation for its listing, which would put it behind Nvidia (NVDA), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG, GOOGL), and Amazon (AMZN) on the world’s most valuable company list.
SpaceX reported $18.7 billion in total revenue for 2025, a 33% year-over-year jump. Satellite service Starlink alone accounts for $11.4 billion — or 61% of the total. It’s the real growth engine here and the reason institutional money is lining up.
But there’s a catch: SpaceX posted a GAAP net loss of $4.28 billion in the first quarter of this year alone and carries an accumulated deficit of $41.3 billion — so don’t let the hype blind you to the risk.
IPO proceeds are reportedly earmarked for a dramatically higher Starship flight rate, AI-powered orbital data centers, and early groundwork for a permanent lunar base.
Bottom line: The enthusiasm for the SpaceX IPO is definitely palpable in part because of the company’s technology and allure of getting exposure to Musk beyond Tesla (TSLA).
