SpaceX just became one of the most valuable publicly traded companies on the planet, and it took exactly two days to do it.
Shares of SPCX surged more than 10% on their second day of trading on June 15, with the stock fluctuating between $171 and $178 intraday. That pushed the company’s market capitalization above $2.3 trillion, a number that puts Elon Musk’s rocket company in the same valuation neighborhood as Apple and Microsoft.
For context, SpaceX priced its IPO at $135 per share just days ago. It closed its first day at $160.95, a 19.22% jump from the offer price. Two days in, the stock is already trading roughly 30% above where it debuted.
The largest IPO in history, by a wide margin
SpaceX raised $75 billion through the sale of approximately 555.56 million shares, making this the largest initial public offering ever. To put that in perspective, Saudi Aramco’s 2019 IPO raised $25.6 billion and held the record for years. SpaceX nearly tripled it.
