The entrepreneur Elon Musk founded Space Exploration Technologies Corp., or SpaceX, in 2002 to reduce space transportation costs so humanity could eventually colonize Mars. While Musk's ultimate dream for the company has yet to become a reality, SpaceX has become one of the world's most valuable start-ups. As of mid-2025, it was valued at $400 billion.
SpaceX has been a groundbreaking company over the years. It was the first private company to develop a liquid-propellant rocket that reached orbit, the first to send astronauts to the International Space Station, and the first to achieve a vertical propulsive landing.
SpaceX has a growing commercial operation. It develops and manufactures spacecraft, provides launch services, and operates a commercial satellite-based internet service from its Starlink satellites.
The company is growing increasingly valuable as its revenues and profits soar. Many retail investors are likely wondering when they'll get their chance to invest in the company. Here's a look at what to consider if that opportunity ever arises.
Is it publicly traded?
Is SpaceX publicly traded?
SpaceX doesn't trade publicly on major stock exchanges like the New York Stock Exchange (NYSE) or Nasdaq stock exchange. So, retail investors can't buy shares of the space exploration company through their brokerage accounts.
Musk controls the company and owns a significant stake. It's one of Musk's top investments, with reports estimating that he holds more than 40% of its shares. Employees and venture capital investors own the rest of the company's outstanding shares.
Outstanding Shares
Will it IPO?
Will SpaceX IPO?
As of mid-2025, SpaceX didn't have an initial public offering (IPO) on the calendar and had no plans to go public. Musk has said in the past that SpaceX doesn't need to raise capital to finance its investment programs, so it doesn't need to complete an IPO to bring in money from outside investors to finance growth.
Meanwhile, the company has an active internal trading program to allow employees and existing investors to sell shares. In mid-2025, SpaceX was working on an agreement to enable employees to sell their shares at a $400 billion valuation, a 16% increase in the past six months. These negotiated sales provide employees with liquidity for their shares so that the company wouldn't need to complete an IPO to allow insiders to sell shares.
There has been some speculation that the company will take its Starlink satellite internet business public. However, Musk has thrown cold water on this idea. He has said he wants Starlink to achieve smooth and predictable revenue growth and cash flow before it goes public.
Why Invest in SpaceX?
There are lots of reasons why you'd want to consider investing in SpaceX if it decides to complete an IPO. Some reasons to invest in SpaceX are its innovative technology, Starlink’s revenue potential, its first-mover advantage in the space sector, and a desire to speculate on a potential post-IPO price spike.
How to buy
How to buy SpaceX stock
Because SpaceX isn't publicly traded, investors can't buy shares through their brokerage accounts. However, some investors can still buy shares through other platforms that offer secondary trading of pre-IPO companies.
For example, Rainmaker Securities is a platform that makes private securities transactions possible. It lets institutions and accredited investors (i.e., high-net-worth individuals or people with a high income) buy and sell shares of privately held companies.
High Net-Worth Individual (HNWI)
Since most investors don't meet the accreditation qualifications, they can't buy shares of SpaceX directly until it goes public. However, they do have options to consider.
For example, the ARK Venture Fund (NASDAQMUTFUND:ARKV.X), a public venture capital fund, held shares of SpaceX and several other private companies. Investors interested in getting in on the ground floor of some top pre-IPO companies should check it out.
Another option is to invest in some of the top space stocks to gain exposure to the markets SpaceX seeks to capture.
L3Harris Technologies
L3Harris Technologies (LHX 1.29%) is a leading defense contractor. It provides technology solutions across space, air, land, sea, and cyber. The company provides a variety of space solutions and capabilities, including solid rocket motors, responsive launch solutions, satellite technology, and deep space exploration engine capabilities.
Rocket Lab
Rocket Lab (RKLB -2.23%) is an integrated space company founded in 2006. It provides government and commercial customers with launch services, spacecraft manufacturing, satellite components, and on-orbit management solutions.
The company started out focusing on small launch capabilities, developing the Electron launch vehicle, which is now the second-most frequently launched U.S. rocket. It's currently developing Neutron, a larger, next-generation launch vehicle. Rocket Lab has also invested in diversifying its operations into additional space-related solutions.
Virgin Galactic Holdings
Virgin Galactic Holdings (SPCE -2.63%) is an aerospace and space travel company founded by well-known entrepreneur Richard Branson. It pioneered human spaceflight for private individuals and researchers.
The company went public in 2019 when it merged with a special purpose acquisition company (SPAC) run by famous investor Chamath Palihapitiya. After many delays, the company launched its first test spaceflight in 2021. It finally launched commercial services for scientific research in 2023. Virgin Galactic plans to launch a new class of spaceships for commercial space tourism services by the fall of 2026.
ETFs
ETFs with exposure to SpaceX
Another alternative to consider for investors interested in SpaceX stock is an exchange-traded fund (ETF) focused on the space sector. As of mid-2025, three ETFs focused on this sector:
Exchange-Traded Fund (ETF)
- ARK Space Exploration & Innovation ETF (NYSEMKT:ARKX): The fund, actively managed by Cathie Wood, focuses on companies engaged in space exploration and innovation, aiming for between 35 and 55 holdings. It has a reasonable ETF expense ratio of 0.75%. As of mid-2025, the ETF had more than $340 million in assets under management (AUM). Rocket Lab and L3Harris Technologies were among its top holdings (largest and eighth-largest in mid-2025, at 10.3% and 4.9% of its net assets, respectively).
- Procure Space ETF (NASDAQ:UFO): The ETF owns shares of companies involved in space-related industries. Although tiny (roughly $83 million in AUM as of mid-2025), it also has a 0.75% expense ratio. It had 44 holdings, including Rocket Lab USA (the second-largest, at 6.1% of its assets).
- SPDR S&P Kensho Final Frontiers ETF (NYSEMKT:ROKT): This passively managed fund focuses on companies that make products or provide space travel and exploration services. The tiny ETF had only about $23 million in AUM and a 0.45% gross expense ratio as of mid-2025. The fund held around 30 stocks, including Rocket Labs (largest, at 5.2% of its assets).
Benefits and Risks of Buying SpaceX Stock
There are several potential pros and cons of investing in SpaceX stock. Some of the benefits are:
- The potential for significant price appreciation.
- The ability to invest in the final frontier of outer space.
- The potential of investing in a company delivering skyrocketing revenue and profitability.
- The ability to invest in another company led by Elon Musk.
On the other hand, some potential risks of investing in SpaceX are:
- It trades at a high valuation, which would likely only increase in the immediate aftermath of an IPO.
- Shares of the space company could be very volatile.
- Elon Musk's political views could affect the company's ability to win government contracts.
Should I invest?
Should I invest in SpaceX?
Although most investors can't buy shares of SpaceX yet, people interested in the company must consider a couple of crucial aspects before buying shares (assuming it eventually completes an IPO). Two of the most important are profitability and valuation. Here's a closer look at these two critical investment factors.
Is it profitable?
Is SpaceX profitable?
Since SpaceX isn't publicly traded, it isn't required to disclose its financial results. However, given the company's popularity, it has revealed some financial data.
A report by the Wall Street Journal in mid-2025 highlighted the financial strength of SpaceX. It noted that the company was on track to generate $16 billion of revenue for the year. Further, it was sitting on more than $3 billion of cash at the time. The company's strong revenue and cash positions enabled it to expand without needing to raise new capital from investors. A big driver of SpaceX's financial strength is Starlink, which doubled its revenue in 2024 to $2.7 billion.
If SpaceX can continue growing its revenue and profitability at high rates, its stock will have the fuel to skyrocket in the future.
Valuation
What is SpaceX's valuation?
Valuation is another crucial factor investors should consider before buying any stock. Paying too high a price could cause them to lose money, even if profits take off.
As of mid-2025, SpaceX's private market valuation was approaching $400 billion based on a potential share sale the company was working on for employees.. That was 14% higher than its valuation at the beginning of the year. That makes SpaceX more valuable than leading U.S. defense contractors Boeing (BA 0.11%), Lockheed Martin (LMT 0.04%), and Northrop Grumman (NOC 1.83%).
With the company on track to generate $16 billion of revenue in 2025, it trades at about 25 times sales. That's a hefty valuation.
SpaceX could grow into its valuation if its revenue and profits continue to skyrocket in the coming years. So, it could be trading at a more reasonable valuation if and when it goes public.
Related investing topics
The bottom line
The bottom line on SpaceX
SpaceX isn't currently publicly traded, so most investors can't buy shares of Musk's space exploration company. However, the company or its Starlink satellite internet service business could eventually go public.
If that happens, interested investors should carefully consider the company's profitability and valuation because they will be key drivers of its stock price in the future. If both appear poised to skyrocket, the stock could also soar.
FAQs
Investing in SpaceX: FAQs
Can I buy stock in SpaceX?
SpaceX isn't a publicly traded company, so you can't buy shares through a brokerage account. However, accredited investors can sometimes purchase shares through platforms that trade private securities on a pre-IPO secondary market.
Is it worth investing in SpaceX?
SpaceX could be a worthwhile investment. The space exploration company is rapidly growing its revenue as it expands its launch services and satellite internet businesses. Those drivers are fueling a rapidly rising private market valuation.
Can I buy Starlink stock?
As of mid-2025, you couldn't buy shares of Starlink stock. The satellite internet company is a subsidiary of SpaceX, a privately held space exploration company controlled by Elon Musk.
Does SpaceX have a stock symbol?
SpaceX does not have a stock symbol. The space exploration company is a privately held company controlled by Elon Musk.
Can institutional investors buy and sell private market stocks?
Yes, institutional investors can sometimes buy and sell shares of private companies (like SpaceX) on secondary marketplaces like Hiive, Equity Bee, and Forge Global.
Who is the largest shareholder of SpaceX?
Elon Musk is the largest shareholder of SpaceX. According to the Wall Street Journal, Musk controlled the company with a more than 40% stake.
Do all SpaceX employees get stock?
Yes, SpaceX employees typically receive stock as part of their compensation package. They can get restricted stock units (RSUs) or stock options.
