NEW YORK CITY, New York: SpaceX shares climbed more than 6% on June 15, extending gains from last week's record-breaking market debut as investors continued to pile into the stock despite concerns about its lofty valuation and lack of profitability.

The rally followed a 19% surge in the company's Nasdaq debut on Friday, a performance that lifted SpaceX's valuation above $2 trillion and made it one of the most valuable companies in the United States.

Investor enthusiasm was further boosted after CEO Elon Musk said on Sunday that SpaceX could generate $1 trillion in revenue by 2030. The company reported revenue of $18.7 billion in 2025 and has yet to post a profit.

The IPO also helped make Musk the world's first trillionaire.

"This is a company with significant growth potential ahead of it. It's definitely going to be a long-term story, and I think it will take time for the stock to find its footing in the public markets, but there are a lot of exciting opportunities ahead," said John Belton, portfolio manager at Gabelli Funds.

"SpaceX is the ultimate growth stock."

Retail investors have played a significant role in the stock's strong start. According to data from Vanda Research, individual investors bought $117.6 million worth of SpaceX shares on Friday, making it the most-purchased stock of the session and surpassing the previous IPO record set by Coinbase in April 2021.

Retail investors received about 20% of the IPO allocation.

Despite the optimism, analysts and portfolio managers cautioned that investors should expect sharp swings in the stock price, particularly during the company's early months as a publicly traded company.

They pointed to SpaceX's relatively small public float and high valuation as factors that could contribute to volatility.

At the same time, several developments could continue to support demand for the shares.

SpaceX is expected to gain fast-track inclusion in the Nasdaq 100 index, potentially making it a major holding for exchange-traded funds and passive investment vehicles that track the benchmark.

The company is also set to be added to FTSE Russell indexes on June 26 and MSCI indexes on June 29.

Analysts said those additions could generate significant inflows from index-tracking funds.

Jefferies estimates that inclusion in FTSE Russell indexes alone could attract about $2.68 billion from passive investors.

Investors are also monitoring several upcoming milestones, including the launch of SpaceX options trading on Tuesday and the expiration of certain investor lockup periods over the coming months.

By mid-morning on June 15, SpaceX shares were trading at $171.04, up 6.3%, with more than $7.2 billion worth of stock changing hands.

Trading volume in SpaceX exceeded the combined turnover of Nvidia, Microsoft and Tesla during the session, highlighting the intense investor interest surrounding the newly public company.