SpaceX Lists at $135 on June 12, Largest IPO on Record; KeyBanc Upgrades Rocket Lab and Firefly Amid Sector Sell-Off

According to BlockBeats, SpaceX listed on the Nasdaq on June 12 at $135 per share, raising $75 billion, marking the largest IPO on record. The milestone sparked significant volatility in related stocks on June 15: Rocket Lab fell 11%, Firefly dropped 19%, and Virgin Galactic plunged 34%.

KeyBanc analyst Michael Leshock countered the sell-off by upgrading Rocket Lab and Firefly to overweight with price targets of $135 (implying 32% upside) and $50 (implying 57% upside), respectively. The upgrades align with broader Wall Street consensus, with 17 of 22 analysts covering Rocket Lab and 8 of 10 covering Firefly recommending buy ratings.

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