Column chart of each stock's return from its IPO offer price to its close on trading day 90, counting the IPO day as day 1. Arm, which went public in 2023, was up 49.7%. Alibaba, 2014, was up 44.8%. SpaceX, 2026, was up 9.5%. Facebook, 2012, was down 46.6%.

SpaceX stock closed Tuesday 9.5% above its $135 IPO price on its 90th trading day, behind Arm and Alibaba at the same point but far ahead of Facebook.

Here's how four high-profile tech IPOs stood at their 90th trading-day close versus their offer price.

  • Arm (2023) +49.7%

  • Alibaba (2014) +44.8%

  • SpaceX (2026) +9.5%

  • Facebook (2012) -46.6%

Facebook is the cautionary tale.

It didn't close back above its $38 offer price until August 2013, more than 14 months after its debut.

Alibaba and Arm show the other path, with both up more than 40% at the same point.

SpaceX gave bulls more to work with after Tuesday's close, beating revenue estimates with $14.58 billion in third-quarter revenue.

Its path since the June debut has included a record close and a dip below the offer price.

SpaceX has dodged the Facebook path so far, and Thursday's share unlock is the next test.

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Phil Rosen
Phil Rosen

Phil Rosen is co-founder and CEO of Opening Bell Media and chief market strategist for Silvia Inc. (NASDAQ: SVIA). He hosts Full Signal and writes Opening Bell Daily — the markets briefing read by over 200,000 investors and published on Bloomberg Terminals — and has also published two books and won a Fulbright award for his reporting. Contact him at [email protected].

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