SpaceX didn’t just go public. It went supernova.
Shares of Elon Musk’s rocket and satellite company climbed in premarket trading following their Friday debut on the Nasdaq under the ticker SPCX. After pricing at $135 per share on June 11, the stock opened around $150, touched an intraday high near $176, and settled at $160.95 by the close. That’s a 19% pop on day one, which, for a company that raised $75 billion in the largest IPO in recorded history, is the kind of thing that makes investment bankers weep tears of joy.
The listing vaulted SpaceX’s market capitalization to approximately $2.3 trillion, instantly placing it among the most valuable public companies on US exchanges. The company sold 555.6 million shares in the offering, underwritten by Goldman Sachs.
The Bitcoin angle Wall Street didn’t see coming
Here’s where things get interesting for the crypto crowd. Buried in SpaceX’s IPO filings was a disclosure that the company holds 18,712 BTC, valued at roughly $1.3 billion.
