Top IPO Expert: SpaceX IPO ‘Will Blow Away’ Records Set by Visa and Alibaba

University of Florida concern prof Jay Ritter, who runs the school's IPO Initiative and is wide regarded arsenic the dean of IPO research, told CNBC connected June 11, 2026, that SpaceX's pending offering volition acceptable a first-day underpricing grounds that dwarfs anterior benchmarks held by Visa and Alibaba. "SpaceX is astir surely going to stroke them away," Ritter said, referring to the popular betwixt the IPO terms and opening trade.

The Elon Musk-led rocket and outer institution is priced astatine a $1.75 trillion valuation, which works retired to astir 40 times estimated 2026 income and 170 times EBITDA. The institution expects to rise astir $75 cardinal in caller superior from the IPO. According to the SPCX ticker scheduled to statesman trading connected NASDAQ connected June 12, 2026, the woody carries an unprecedented retail allocation that Ritter argues changes the mathematics for idiosyncratic investors.

The Records Ritter Says Will Fall

Visa (NYSE:V) priced its March 2008 IPO astatine what was past the largest U.S. offering successful history, raising astir $17.9 billion. Since its debut, the payments web has returned 2,505.64% connected a split-adjusted basis, with the banal astatine $318.78 arsenic of June 10, 2026. SpaceX expects to rise astir $75 cardinal from its upcoming IPO.

Visa's astir caller 4th showed wherefore the post-IPO compounder communicative persists: Q1 FY2026 nett gross of $10.90 cardinal (up 14.6% twelvemonth implicit year) and non-GAAP EPS of $3.17, with CEO Ryan McInerney highlighting "our Visa arsenic a Service stack" positioning the institution arsenic a "payments hyperscaler." The shares commercialized astatine a guardant P/E of 21 with a price-to-sales ratio of 14.

Alibaba's $25 Billion Bar

Alibaba (NYSE:BABA) seized the planetary IPO grounds from Visa successful September 2014 by raising astir $25 billion. The retail tranche Ritter cites for SpaceX would lucifer the full size of Alibaba's woody connected its own.

Alibaba's caller Q4 FY2026 gross of $35.28 cardinal grew conscionable 3% twelvemonth implicit year, with adjusted EBITA falling 84% to $740 cardinal arsenic the institution invested successful AI. Cloud Intelligence Group outer gross accelerated to 40%, with CEO Eddie Wu telling investors that "AI-related products relationship for 30% of this revenue." The banal trades astatine a price-to-sales ratio of 0.3.