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SpaceX shares end the day up 19% near $161 a share, sending its value past $2 trillion
The offering raised $75 billion and drew unusually heavy retail demand, with shares opening at $150 and closing near $161.
- On Friday, SpaceX began trading on the Nasdaq under ticker SPCX, opening at $150 per share and closing at $160.95, up 19%, while raising $75 billion in the largest initial public offering ever.
- The offering valued CEO Elon Musk's rocket company at roughly $1.77 trillion, pushing Musk's net worth past $1 trillion and positioning him to become the world's first trillionaire.
- SpaceX's $75 billion debut surpassed 10 historical IPOs ranked by proceeds, significantly exceeding the previous record of $25.6 billion raised by an Energy firm in December 2019.
- Despite the record-breaking IPO, some analysts express skepticism regarding the $1.7 trillion valuation, citing that SpaceX has yet to generate profit and produced roughly $19 billion in revenue last year.
- The public market anticipates additional sizable IPOs, including potential offerings from OpenAI and Anthropic, both of which have confidentially filed to go public.
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Space X shares increased by over 19 percent at the end of the first trading day and made Elon Musk the first billionaire.
By the end of the first trading day, the space company's share increased by 19 percent. Countless retail investors are now involved. The new billionaire has already demonstrated how reckless he is with investor confidence.
·Munich, Germany
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The launch on the Stock Exchange of the aerospace group of Elon Musk on Friday, Wall Street, broke all the records, becoming - by far - the most important in history.
·Paris, France
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Coverage Details
Total News Sources158
Leaning Left25Leaning Right23Center45Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 27%
C 48%
R 25%
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