Opinion: Referring to Bitcoin's performance after the Coinbase listing, the US stock market may face a midterm correction after SpaceX goes public

CNBC — SpaceX President Gwynne Shotwell shared in remarks on June 12 that the company’s initial public offering has allowed many SpaceX employees to cash in, with some reaping sizable profits and others earning generous sums. Long before the IPO price was set at $135 per share, employees already held large blocks of company shares they had acquired at a deep discount. Shotwell also noted that CEO Elon Musk attended this week’s investor meeting.

June 12. Per community feedback, on Kraken’s SpaceX presale, every investor will receive a fixed allocation of just 4.2786 shares—this amount isn’t tied to how much you invest. Whether you put in $10,000 or $1 million, you’ll get that exact same share allocation. In an earlier announcement, Kraken employee Nata explained that partial order fills for the SpaceX Pre-IPO are due to global demand massively outpacing the underwriter’s initial share pool. All unfulfilled order portions will receive a full refund with no fees.

**Bitget Launches Weekend Trading for US Stock Spot (rToken) Products** June 12 (Official Announcement) — To meet users’ round-the-clock trading needs, crypto exchange Bitget has officially rolled out weekend trading functionality for its Stock Spot (rToken) offerings. The initial batch of supported assets includes 20 popular U.S. stock targets, such as rAAPL (Apple), rNVDA (Nvidia), and rTSLA (Tesla), alongside other widely traded names. When the U.S. stock market is closed, the platform generates weekend continuous trading prices based on three inputs: the previous Friday’s closing price, market maker quotes, and broader market expectations. The feature supports limit orders as well as take-profit and stop-loss settings. To prevent abnormal price fluctuations, the system has set a ±20% protection limit for all weekend limit orders. Bitget’s rTokens—named with the format “r + stock symbol” (e.g., rNVDA for Nvidia)—are issued via its licensed Real-World Asset (RWA) protocol,

Per official data, SpaceX’s contract position on trade.xyz hit $293 million on June 12, landing it the third spot on the platform. At press time, SPCX is trading at $175.7, with a 24-hour trading volume of $390 million.

SpaceX’s U.S. stock IPO opened at $172 per share on its first trading day, June 12, with an initial offering price of $135 per share.

June 12: Per market sources, SpaceX has revised its expected opening price to $175, pushing its market capitalization past $2 trillion.