SpaceX officially entered public markets on Friday, June 12, which marked one of the most closely watched stock market debuts ever as Elon Musk’s rocket and satellite company began trading on the Nasdaq.
The company priced its initial public offering (IPO) at $135 per share, raising about $75 billion and giving SpaceX an initial valuation of approximately $1.77 trillion thereby making it the largest IPO ever recorded.
Shares began trading under the ticker symbol SPCX, opening at about $150 per share which is roughly 11 percent above the IPO price, as investors rushed to gain exposure to the company’s ambitions in space technology, satellite communications and artificial intelligence infrastructure.
A record-breaking market debut
SpaceX’s IPO surpassed previous mega-listings and immediately placed the company among the world’s most valuable businesses.
