SpaceX didn’t just go public. It went nuclear.
On its first day trading on the Nasdaq under ticker SPCX, the Elon Musk-led aerospace company saw ETF ownership of its shares explode from 4 holders to 40. That’s a tenfold increase in institutional fund exposure in a single trading session.
The stock itself fluctuated between roughly $135 and north of $175 during early trading on June 12, and SpaceX’s market capitalization quickly surpassed $2 trillion.
The ETF gold rush
Over 25 ETFs had pre-registered with the SEC to trade SPCX ahead of the IPO, meaning fund managers were lining up at the door well before the opening bell rang.
