Top Reddit Stocks Last Week: SPCX Gets All the Attention

By AltIndex Research · 7 min read · June 15, 6:00 am

SpaceX went public last week in the largest stock debut ever, and Reddit dropped everything else to talk about it. SPCX landed at the top of our most-mentioned list with 2,586 mentions, more than Microsoft, Nvidia, and Google combined. The mega-cap AI names that usually own the leaderboard all faded as attention rotated into the one ticker every trader suddenly wanted.

One IPO swallowed the whole leaderboard

For months, Reddit's stock conversation has run through the same names: Microsoft, GameStop, Nvidia, Google, etc. Last week that pattern broke. SpaceX listed on the Nasdaq, and the discussion reorganized around it almost instantly. SPCX took the top spot with thousands of new mentions.

The rotation was not subtle. Nvidia mentions fell 46.68%, Google dropped 48.73%, GameStop fell 66%, and Micron dropped 57%. Microsoft held the number two spot but still slipped 9.08%. When one new name pulls this much attention away from the established leaders at once, it usually means a genuine catalyst, not a slow drift in sentiment. The SpaceX IPO was that obvious catalyst.

The biggest IPO ever, priced with no range

SpaceX locked its IPO at a flat $135 per share, 555 million shares, raising roughly $75 billion. That makes it the largest stock debut on record, bigger than Saudi Aramco. Reddit fixated on one detail above all others: there was no price range. Bankers normally float something like $120 to $140 and build a book. SpaceX skipped that step, which traders read as a sign the allocation was already spoken for by sovereign funds before retail ever saw it.

That structure became the core of the bull case. Posts kept returning to the same numbers: a float of around 4%, roughly 555 million shares out of 13 billion, with about 30% of the offering directed to retail and Elon Musk retaining an 82% stake. The takeaway traders drew was that insiders could not dump even if they wanted to, every fund needs space exposure, and there is exactly one ticker for it. One widely upvoted post called the allocation process a lottery that most retail traders effectively lost, with fills coming in far below requested size.

"4% float (555M shares out of 13 BILLION), 30% of it handed straight to retail, and elon keeping 82% so insiders couldn't dump if they wanted to."
Source: r/wallstreetbets

The valuation debate split Reddit in two

SpaceX closed its first day near a $2.1 trillion market cap, and that number set off the loudest argument of the week. The bears did the math out loud. With 2025 revenue of $18.7 billion and a reported net loss of $4.9 billion, the stock listed at roughly 112 times sales while losing money. For comparison, traders pointed out that Apple trades around 9 times sales and Nvidia peaked near 30 times during the height of AI mania.

A recurring skeptical thread focused on Starlink as the only cash-generating piece, around $11.4 billion of total revenue, and questioned paying a $2 trillion valuation for what one user described as a satellite internet business attached to a rocket company. Another widely shared post argued SpaceX would need to grow 600 times in a decade to justify even a $1.75 trillion valuation, noting no company has come close to that.

The bulls were not deterred. The most upvoted bull thesis leaned on the low float and the absence of an alternative, arguing that scarcity alone could push the close toward a $2.4 trillion valuation, which the poster framed as a 36% pop. The sentiment reading on SPCX stayed bullish through the week despite the valuation pushback, which tells you the price-skeptics were loud but outnumbered in the conversation.

Tesla merger talk and the Google compute deal kept the story spreading

Two side narratives kept SpaceX in the feed beyond the IPO mechanics. The first was a Tesla merger. SpaceX's president was reported to be floating a combination as the stock began trading, and Reddit ran with it. Traders built option positions around a surprise purchase announcement, reasoning that Elon Musk, having failed to secure the voting control he wanted at Tesla, built absolute control at SpaceX instead and could use it to fold Tesla in.

The second was infrastructure. A heavily discussed post covered Google buying computing from SpaceX in a deal reported at roughly $920 million a month, which tied the IPO into the broader AI buildout story that already dominates Reddit. That connection is part of why SpaceX did not just rank first on its own merits. It pulled adjacent AI and infrastructure discussion toward its ticker rather than the usual mega-caps.

There was also a structural wrinkle that even the boglehead crowd noticed. The S&P 500 declined to fast-track SpaceX into its index and would not waive its rule for unprofitable companies, a decision that also closed the door on quick index entry for AI firms like OpenAI and Anthropic after their own expected listings. For passive investors, that was framed as good news, one less unprofitable mega-cap getting auto-bought into their funds.

Microsoft, Nvidia, and Google held their ranks but lost the spotlight

The old leaders did not disappear, they just got crowded out. Microsoft stayed at number two on continued OpenAI buzz, including the confidential IPO filing that traders framed as a win for Microsoft given its stake, plus ongoing debate about its $30.9 billion quarterly capital outlay. Its shares fell 6.22% on the week.

Nvidia and Google both saw mentions nearly halve, yet stayed central to the AI map. Nvidia chatter spread into Micron and SanDisk on Jensen Huang's comment that memory shortages could persist for years, and Nvidia kept showing up as the yardstick traders used to judge whether SpaceX's valuation made sense. Google's biggest threads tied it to that same SpaceX compute spending and to the OpenAI rivalry after Gemini 3.5 surfaced as a competitive threat. The pattern was consistent: the established names remained reference points, but the fresh attention belonged to SPCX.

Top Reddit Stocks This Week

SpaceX rewrote the leaderboard in a single week. The IPO was the biggest ever, the float was tiny, the valuation was contested, and Reddit could not look away from any of it. The AI mega-caps that normally dominate are still there, still relevant, but for one week the entire conversation pointed at one new ticker. Whether SPCX holds that attention once the lockup and the valuation math come back into focus is the question worth watching next.

For more information and to stay updated on the most mentioned stocks on Reddit in realtime, visit Trending Stocks on Reddit.

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Sources: AltIndex Reddit mentions and sentiment data, public IPO filings, Reddit posts from r/wallstreetbets, r/investing, r/ValueInvesting, and related communities. Stock prices are historical and for informational purposes only. This article does not constitute investment advice.

Disclosure: This article is for informational purposes only and does not constitute investment advice. AltIndex aggregates publicly available alternative data signals. Past signal performance does not guarantee future results. Always do your own due diligence before making investment decisions.

This article was written with AI assistance. Verify important details before making investment decisions.