SpaceX’s IPO on June 12, 2026, was the largest in stock market history, and its shares trade near the IPO price nearly five months later. Key events before June 12, 2027 include quarterly earnings, a full 180-day lockup expiring on Dec. 8, 2026, and Elon Musk being able to sell his 6.4 billion shares on June 12, 2027. Musk has said SpaceX and Tesla are exploring a merger, though not a done deal, and SpaceX could be eligible for S&P 500 inclusion in mid-2027 if it shows profitability. The author outlines a bull case of $220–$240, a base case of $165–$185 and a bear case of $90–$110, and predicts about $200 on June 12, 2027. The consensus 12-month price target is $240.
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