SpaceX Jumps 20% in Nasdaq Debut After Record IPO
SpaceX shares opened at $150 and climbed to $162 in their Nasdaq debut after the company priced its IPO at $135 a share. The offering raised $75 billion and valued Elon Musk’s aerospace and satellite internet company at about $1.8 trillion.
What happened?
SpaceX shares opened at $150 and climbed to $162 in their Nasdaq debut after the company priced its IPO at $135 a share. The offering raised $75 billion and valued Elon Musk’s aerospace and satellite internet company at about $1.8 trillion.
Why it matters
SpaceX made a powerful entrance on Nasdaq on Friday, with shares opening at $150 and rising to $162 in early trading. The stock, listed under the ticker SPCX, had priced at $135 a share in its initial public offering on Thursday.
SpaceX made a powerful entrance on Nasdaq on Friday, with shares opening at $150 and rising to $162 in early trading. The stock, listed under the ticker SPCX, had priced at $135 a share in its initial public offering on Thursday.
The debut matters because it gives public-market investors their first direct access to one of the most closely watched private companies in the world. SpaceX has become a major force in commercial space through reusable rockets and has built a large satellite internet business through Starlink.
According to CoinDesk, SpaceX sold 555.6 million shares and raised $75 billion, making it the largest IPO on record. At the IPO price, the company was valued at roughly $1.8 trillion.
The listing also has a crypto angle. SpaceX disclosed that it held 18,712 bitcoin as of March 31, a position worth just under $1.2 billion at bitcoin’s recent price of around $63,500, according to the source.
Broader crypto markets were calmer during the debut. Bitcoin was roughly flat near $63,400, while AI-related crypto stocks posted modest gains.