There is no shortage of commentary about whether SpaceX stock will rise or fall in the wake of its IPO. Indeed, you can spend hours reading articles from bulls and bears alike, each arguing the case for the stock to soar or crash and burn. The point of most commentary is that investors should look at SpaceX’s debut as a directional bet.
The bearish case rests on the fundamentals. SpaceX remains unprofitable, has burned through $37 billion in cash since inception, and yet went public at a $1.75 trillion valuation. To say it’s not a value stock is something of an understatement. Moreover, it’s clear that the bulk of the valuation rests on hopes for the company’s AI prospects. Starlink is profitable, but that’s not why the stock is priced as richly as it is.
Then there’s the checkered history of hot IPOs. As shown in the table below, even those issues that delivered positive performance 12 months out suffered significant drawdowns along the way.
There are arguments for SpaceX to have a successful IPO, however. For one thing, the company essentially has a new industry to itself. And if that industry keeps growing and SpaceX can become profitable while retaining its dominant market share, the stock could benefit in the weeks and months to come.
And you can’t rule out the Elon factor, either. Just as the bears say SpaceX’s valuation is untethered from its fundamentals, the bulls can argue that’s not a bad thing. Tesla, for its part, continues to enjoy a sky-high valuation arguably because investors associate it with Musk. (The company is worth as much as all other U.S. car manufacturers combined even as they catch up technologically—which suggests that sentiment is driving the bus).
Finally, Nasdaq has largely waived its standard index inclusion criteria for the SpaceX IPO, meaning that the stock could enjoy a mechanical bid from passive investors shortly after it starts trading. Millions of retirement accounts, for example, will end up owning a slice of the company before long.
Beyond Directional Bets on SpaceX: Introducing XSHP
It’s a reasonable assumption that such a highly valued new issue—and one associated with Elon Musk—will see its options trade with high implied volatility.
And that’s the philosophy behind the Kurv SpaceX Enhanced Income ETF (XSHP). As with other Kurv single-stock income ETFs, XSHP will seek underlying exposure to SpaceX common shares, while harvesting income along the way using options strategies.
We can’t know for certain whether SpaceX will rise or fall in the weeks and months to come after its IPO. But with the Kurv SpaceX Enhanced Income ETF, we believe there’s another way to benefit from the stock, no matter which direction it goes.
XSHP launches on June 17.
Important Information:
The foregoing is general market and economic commentary prepared by Kurv investment professionals as of 06/11/2026. The commentary is neither to be construed as general investment advice nor personalized investment advice. Our commentary is subject to change based upon our views of market, economic, political and related factors. We are under no obligation to provide updated commentary if our views change. To the extent the commentary covers market segments, market sectors, industries, commodities or other securities please note that Kurv professionals may effect transactions in such market segments, market sectors, industries, and commodities or other securities which presents a conflict of interest. All Kurv investment professionals are subject to the firm’s Code of Ethics policy.
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