Live updates from SpaceX IPO debut: SpaceX valuation at $2.1 trillion as stock closes at $161.11 following record first day of
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Friday marked one of the biggest days in stock market history as SpaceX, the most hotly anticipated stock market debut ever, blew past expectations in its first day of trading.
Key facts
SpaceX opened at above $150 a share (up 11.11% from the $135 IPO price) after 11:46AM
By 1PM, it soared to $175, up nearly 30% from its target price, before settling at above $169
ET, while markets were still open—was at $135 a share for 555.6 million shares, raising the $75 billion the company targeted and valuing it at $1.77 trillion
The $1.77 trillion price tag instantly makes SpaceX the sixth-most valuable company in the U.S. and seventh-most valuable worldwide, ahead of Meta and Tesla—despite posting a $4.9 billion net loss
Summary
The valuation surged Musk’s net worth above $1 trillion and SpaceX’s valuation to more than twice that—with the company’s market cap reaching $2.1 trillion. The official trading start was delayed due to intense order matching activity, in which investors who refreshed brokerage accounts on Friday morning saw that SPCX was public, but there were no trades. At noon Friday, the stock was hovering between $162 and $165. Thirty minutes before market close, the stock remained steady at over $162, and more than 172 million shares were traded on Nasdaq alone, taking over a record previously held by Nokia, which became the second-most active stock on the exchange.