The SpaceX IPO explained: how it worked, Flow's lock-up thesis, and the ownership lesson

The setup: 'don't buy SpaceX' — and why Flow disagreed

Ahead of the offering, Flow says the timeline was full of "wait till SpaceX drops, don't buy SpaceX, stay away, put your money elsewhere." His view: that would have been the wrong move. He didn't treat SpaceX as a trade — "it's a long-term investment." To him this IPO was "unlike any other IPO in history," and not just because of its size.

How the IPO actually worked

Flow walks the mechanics in plain English. A company signals it's going public by filing an S-1. To participate, you submit an indication of interest to your broker — telling them you want in. SpaceX priced its shares at $135. Flow requested 444 shares through Fidelity and, like many retail investors in a hot IPO, got only a fraction filled — 85 shares. (Allocations routinely get cut when demand is huge.) By the time he recorded, he framed the stock as already up sharply.

The lock-up thesis — and his plan

Flow's read on why it kept climbing: the board put a lock-up period in place — roughly six months, in his description — during which insiders can't sell their shares without penalty. Less selling pressure, he reasoned, meant the price "couldn't help but go up." His plan: don't buy more until after the lock-up, when he expected the price could fall as shares free up; if it did, he described taking puts to profit from a temporary drop, then rolling those gains back into long-term shares. That's a strategy he describes for himself — options carry real risk and this is education, not advice — but the through-line is that he's playing SpaceX as a long-term holding, not a quick flip.

The real lesson: think like an owner

The part Flow cares about most isn't the ticker — it's the mindset. He points to Elon Musk, who (as Flow put it) had just become the world's first trillionaire, and notes Musk built that "from ownership… every move he made, he made sure he got a piece of the equity." His takeaway for regular people: "even if you invest into the stock market, you are now a business owner. I own a part of SpaceX right now because I have 85 shares." Stop thinking like an employee waiting to be paid what you're worth; go get a piece of the equity.

Current update — what SPCX has actually done

This video was recorded days after the IPO, on June 17, 2026. Here's what the record shows since, from authoritative sources. SpaceX priced at $135 and began trading on the Nasdaq as SPCX on June 12, 2026 — matching Flow's account. It opened around $150, closed its first day near $161 (up ~19%), and the IPO — targeting roughly a $1.77 trillion valuation and raising about $75 billion — was described as the largest in history, briefly making Elon Musk's paper wealth the largest on record (net-worth figures fluctuate and "$1.4 trillion" is Flow's figure at the time).

Where Flow's mechanics got more complicated: the stock did not simply go "straight line up." Over the following weeks SPCX was volatile — its 52-week range runs from about $105 (below the $135 IPO price) to about $226 — and the lock-up was staggered, not a single clean six-month wall. A first tranche of roughly 911 million insider shares unlocked around August 6, 2026 — well before the six-month mark he cited — while Musk and certain insiders are locked up about 366 days (into 2027), with further unlocks scheduled. As of September 23, 2026, SPCX traded around $148 — above the $135 IPO price but well off its highs. Flow's central calls — participate rather than sit out, and treat it as a long-term ownership stake — look reasonable so far; his specific "simple six-month lock-up, straight line up" framing was messier in practice. This is a written companion for education, not investment advice.

This is educational content, not financial advice. Any figures are illustrations, not promises. Investing involves risk, including loss of principal. Do your own research and consider a licensed professional.