9AM Hour: Historic Day in the Stock Market: SpaceX's Public Debut and Record-Setting IPO 6/12/26

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 12 June 2026

⏱️ 51 minutes

🔗️ Recording | Apple Podcasts | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber kicked off wall-to-wall coverage of SpaceX's public debut day. Elon Musk's company was valued at nearly $1.8 trillion after pricing its record-setting IPO at $135 per share. The anchors explored what's at stake for the markets and investors. You'll hear Musk's speech to SpaceX employees at the company's headquarters in Starbase, Texas. Also in the mix: Cramer's message on SpaceX's opening trade, a live report from the trading floor of Morgan Stanley — one of the lead underwriters of the SpaceX IPO, a flashback to the first trading days for companies including Tesla, Facebook (now Meta) and Alibaba. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:11.9	Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer and David
0:15.6	Faber post nine of the New York Stock Exchange. It is an historic day for the stock market as
0:19.7	SpaceX goes public in the largest IPO of all time.
0:23.0	Futures trying to hold some gains here after the best day for the S&P in a couple of months,
0:27.6	as Iran's news agencies today confirm, and MOU is under discussion. Oil hit a three-month closing low last night,
0:34.7	WTI right around 85, but today it is all about SpaceX.
0:38.7	Elon Musk's company set to make its public debut with implications for the banks,
0:43.6	VCs, stock indices, and of course the retail investors who manage to get some.
0:49.4	I was just thinking, guys, we have seen a lot of historic days.
0:58.2	Meta or Facebook at the time, Uber, Baba, but this is a big one, Jim.
1:03.4	Yeah, and this is when I think that they're really, they spend a lot of time trying to figure out what could go right and what could go wrong.
1:12.3	I'm very impressed with the people who ran these deals because they focused David on everything that could go awry, as opposed to everything that could go great. And I really liked that, as opposed to Figma, as opposed to Cerebrus,
1:18.3	maybe as opposed to some of the ones that Carl just mentioned, really focused on how not to give
1:23.3	it to the wrong people and how to vary, vary it. There was apparently, you mean, fidelity, people got a lot, a Robin, people didn't get a lot.
1:32.2	I mean, they really thought about it.
1:34.3	And I don't know, David.
1:35.3	How much of it was Musk involved with them?
1:37.8	Yeah, I don't know the answer to that.
1:39.1	It's a good question.
1:39.9	Or his partner, Bertal, who's sort of always involved so closely in these kinds of financial
	...

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