$SPCX Is About to Break the IPO Record — and Maybe Your Portfolio
SpaceX sets a fixed $135 IPO price, Macy's posts its best Q1 in four years, and GameStop is somehow still doing things
Ticker Ratings
The biggest IPO in human history is officially happening. $SPCX is targeting a fixed price of $135 per share — no range, no drama, just vibes and $75 billion in capital — valuing SpaceX at $1.75 trillion and making Alibaba's old record look like a rounding error. CNBC is reporting the Nasdaq debut is set for June 12th, and the kicker: 30% of the offering goes to retail investors, which is either democratizing finance or scheduling a volatility event. Investor's Business Daily flagged that Nasdaq's new fast-entry rule means passive funds like $IVV, $VTI, and $QQQ will be forced buyers within 15 trading days. Seeking Alpha, however, threw cold water by pointing out SpaceX runs negative $5B in earnings on $18B in revenue — and that $RTX does $22B in a single quarter, with actual profits.
Meanwhile, $M (Macy's) is quietly having its moment: 3% comp sales growth, four straight quarters of gains, strongest Q1 since 2022, and raised full-year guidance to $21.5–$21.75B in net sales. Bloomingdale's is up 10.2%. The Saks Global bankruptcy is sending luxury shoppers straight into Macy's arms. And then there's $GME, which somehow posted record Q1 net income of $389.6M on the back of Pokémon cards. Yes, really. Pokémon cards.
SpaceX is the most hyped IPO since Facebook — which, if you remember, promptly fell 50% after listing. Sleep tight.