SpaceX stock gains 19% its first trading day, closing out a historic IPO
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It might have been SpaceX’s most ambitious launch yet.
Key facts
The stock began the day trading at $150, and at one point shares surged over 30%, briefly giving SpaceX a market value of more than $2.25 trillion
Shares of Elon Musk’s rocket company gained 19% Friday to close at $160.95 on the SpaceX’s first day of trading on the Nasdaq stock exchange
I gave SpaceX a less than 10% chance of succeeding at all,” Musk said moments before the bell rang
Friday’s offering made Wall Street history not for its size, but also for its scope
Summary
Shares of Elon Musk’s rocket company gained 19% Friday to close at $160.95 on the SpaceX’s first day of trading on the Nasdaq stock exchange. The stock began the day trading at $150, and at one point shares surged over 30%, briefly giving SpaceX a market value of more than $2.25 trillion. Friday’s offering made Wall Street history not for its size, but also for its scope. Yet questions remain about how profitable these companies will be on the bottom line, as they race to dominate what is already an expensive and increasingly competitive business. Earlier in the day, Musk, SpaceX’s chairman, CEO and controlling shareholder, rang the Nasdaq’s opening bell from the company’s headquarters in Starbase, Texas, alongside hundreds of employees.