NYSE Trader Says SpaceX IPO Could Open Near $1,000

Peter Tuchman, a long-time New York Stock Exchange floor trader, predicts SpaceX’s Nasdaq debut could open near $1,000 a share, well above the company’s $135 IPO price and an implied roughly 100-times earnings multiple.

SpaceX set its IPO price at $135 per share, aiming to raise about $75 billion and reach an implied valuation near $1.77 trillion. Reported demand has been about $150 billion, roughly double the planned raise.

Tuchman gave the estimate in a recent interview. He cited scarce available shares and heavy demand as reasons the market price could run well past the offer on the first trading day. He noted that a lower entry minimum at some brokerages widened retail access, increasing potential first-day buyers.

By his calculation, the company would be coming public at about 100 times current earnings. He contrasted that with other large tech companies trading at far lower multiples, and described the planned valuation as “a little bit frothy.”

Tuchman declined to recommend an immediate purchase. He warned the stock could be highly volatile on debut, saying it “could go to 2,000 and it could go to 50.” His recommendation was to wait for the opening trade and observe early price action before committing funds.

He pointed to the IPO’s selling structure as a factor in early scarcity. Some insiders face restrictions on sales until permission is given, a setup that limits the number of shares available at listing and can add upward pressure to the market price.

Market participants expect the listing to draw significant attention. That interest could affect other aerospace and defense stocks as investors reprice related names following the debut.

Tuchman regularly executes large-volume trades on the NYSE floor and framed his view around supply-and-demand dynamics and the potential for sharp early volatility.