When does SpaceX start trading?

SpaceX is expected to begin trading on the Nasdaq on Friday, June 12, 2026. Based on typical IPO timing, indicative quotes will start at 10:15 am and the opening cross is expected at some point during the trading session, depending on the cross imbalance. Alpaca will have the symbol configured and ready to accept orders by 5:00 AM ET on listing day

What is SpaceX's ticker symbol and which exchange?

SpaceX will trade on the Nasdaq under the ticker symbol SPCX

What is the expected IPO price?

The expected IPO price is approximately $135 per share however, secondary pricing could be significantly different when it begins trading.

Can customers buy SPCX at the IPO price?

Purchasing the direct IPO is not available, however customers on Alpaca-powered platforms can participate in the secondary market starting June 12.

Pre-Open Trading Window

When will SPCX appear in the assets API?

Alpaca will configure the SPCX symbol by 5:00 AM ET on June 12. Once configured, the asset will be visible in /v2/assets and ready to accept pre-open limit orders.

Can customers place orders before SPCX starts trading?

Yes. As soon as the symbol is configured (by 5:00 AM ET), customers can queue whole share, quantity based limit orders. These orders will not execute until the first exchange print at the opening cross.

What order types are supported in the pre-open window?

Only limit orders are accepted. Market orders will be rejected. Both DAY and GTC time-in-force values are supported. Only whole-share orders are accepted, fractional shares and notional orders are not available in this window.

How do I confirm the asset is live and fully tradeable via the API?

Check for all three: asset_class = us_equity AND status = active AND tradable = true. Note that tradable = true is also set during the pre-open window, so relying on tradable alone is not sufficient.

Is there a staging period where the asset exists but is not fully tradeable?

Yes. Between symbol configuration and the opening cross, the asset carries an IPO attribute. In this window: limit orders only (DAY or GTC), no market orders, no fractional shares, minimum 1 whole share. Once the opening cross occurs and the IPO attribute is removed, the asset becomes a standard us_equity with all supported order types available.

First Day of Trading

Are market orders supported on day 1?

Market orders are rejected during the pre-open window (while the IPO attribute is attached). After the opening cross, market orders become available. Check for all three: asset_class = us_equity AND status = active AND tradable = true.

Why hasn't the stock started trading at market open?

New IPOs often undergo a price discovery process before trading begins. Market makers collect buy and sell orders to determine an opening price and minimize the opening imbalance, which can delay the first trade.

Are GTC orders supported?

Yes. GTC limit orders are accepted from the time the symbol is configured and will remain active until filled or cancelled.

Are fractional shares available?

No fractional trading at the IPO open. Alpaca will allow fractional orders to be placed 5 minutes after the secondary opening print.

Are notional orders available?

No notional orders will be accepted until after the opening cross and fractional trading begins. Can customers buy SPCX on margin? No. Margin is not available for newly public securities for the first 30 days after the IPO. This is a standard regulatory requirement.

Is short selling allowed?

No. Short selling is not permitted for SPCX at launch. This is standard practice for newly listed securities.

Will extended hours and overnight trading be available for SPCX on day 1?

During the initial launch period, trading will be available during regular market hours only. Extended-hours and overnight trading may not be available during the first few days of trading as we monitor market conditions and liquidity.

Trading Halts and Volatility

Should I expect trading halts?

Yes. SPCX is expected to experience multiple trading halts on the first day due to price volatility. Standard LULD (Limit Up-Limit Down) rules apply to all NMS stocks, including newly listed ones. Alpaca surfaces halt events via the standard API event stream.

What happens to open orders during a halt?

Open orders are held in a pending state during a halt and they are not automatically cancelled. When trading resumes, orders remain active and eligible to fill at the prevailing price, subject to your specified limit price.

Will Alpaca impose any additional buy restrictions on SPCX?

Alpaca may implement temporary quantity limits if trading volume significantly exceeds normal operational capacity. Any such restrictions will be communicated as promptly as possible.

How does LULD (Limit Up-Limit Down) work for a new listing?

LULD bands apply to all NMS stocks including IPOs. If the price moves outside the LULD band, trading is paused. Alpaca will surface these halt and resume events through the standard trade events API. Orders submitted for a halted security are accepted and held pending; they execute once the halt is lifted.

Market Price Data

Is indicative or reference price data available before SPCX opens?

Generally indicative pricing will not be available through normal data providers unless the user subscribes to professional feeds that provide order book imbalances. For retail traders the best sources of information will be public financial news outlets like CNBC or Bloomberg TV.

When does the live price feed go active?

Price data is available from the first trade on secondary trading. There is no intentional delay, though normal data propagation latency applies.

Options Trading and Additional Features

When will options on SPCX be available?

Options are anticipated to list and begin trading on June 16.

Is SPCX eligible for FPSL (Fully Paid Securities Lending)?

Yes, SPCX will be eligible when shares from trades are settled.

What is a lock-up period?

A lock-up period is a restriction that prevents certain insiders, employees, and early investors from selling shares for a specified period after the IPO, often 90 to 180 days.

Are there additional risks when trading a newly listed IPO stock?

Yes. Risks may include: Higher volatility Limited public operating history Rapid price movements Reduced analyst coverage initially Wider bid-ask spreads

Investments in initial public offerings (“IPOs”) involve significant risks and are not suitable for all investors. IPO securities have no prior public trading history, and the offering price may not reflect the market price following the offering. The market price of IPO securities may be volatile, and investors may lose part or all of their investment. Information regarding an IPO issuer may be limited, and the issuer may have a limited operating history or may not be profitable. There can be no assurance that an active or liquid trading market will develop. This material is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Any offer will be made solely by means of a prospectus filed with the U.S. Securities and Exchange Commission. Investors should carefully review the prospectus, including the risk factors described therein, before investing.