SpaceX IPO: Here's How to Buy SPCX Stock Right Now |

After years of “maybe next year,” Space Exploration Technologies (SpaceX) (SPCX +7.19%) went public this morning at $135 a share — a roughly $1.77 trillion valuation that makes it the largest IPO in history and places it among the largest public companies in the world.

Most trillion-dollar companies get to that point relatively slowly, compounding over decades. Apple needed nearly 40 years as a public company to cross the line. SpaceX’s valuation growth has been incredible. It’s no wonder people want in.

If that’s you, here’s how the buying actually works.

You probably didn’t get the $135 price

The $135 offering price went to investors who requested an allocation in advance through one of five brokerages: Charles Schwab, Fidelity, Robinhood, SoFi, or E*TRADE. That window has closed. But even people who got in line early weren’t guaranteed anything — the IPO was reportedly almost four times oversubscribed.

Interestingly, investors like you and me — retail — got an unusually large slice of the available shares, roughly 30%. Most IPOs reserve about 5% to 10%.

But if you’re reading this, you’re in the same boat as nearly everyone else: buying on the open market.

How to actually buy SPCX today

The good news is that from here, it works like buying any other stock — pull up the ticker SPCX in your preferred brokerage account and place an order.

Considering how volatile the stock price will likely be, market orders may be in order here. This allows you to name the most you’re willing to pay, as opposed to placing a market order, which simply takes whatever price is available. On a debut this hyped, the price can move several dollars in seconds, and a market order can fill well above the quote you saw when you clicked.

Should you buy SpaceX stock?

Just because you can now buy the stock doesn’t mean that you should. I think that shares are wildly overpriced, and when the IPO dust settles — or at least soon after — the stock price will come back to earth.

Despite the hype, the space launch dominance, and even the blockbuster Starlink growth, this valuation just doesn’t add up.

The company has certainly earned a premium. SpaceX launches more rockets than anyone by a mile, and Starlink is raking in cash. This is a real business. But the question is whether it’s worth the price tag. At nearly 100 times sales, I don’t think so.

I’m not alone in thinking this. Morningstar pegs SpaceX’s fair value near $780 billion — less than half the $1.77 trillion IPO tag.

Charles Schwab is an advertising partner of Motley Fool Money. Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Charles Schwab and recommends the following options: short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.