SpaceX stock continued its upward trajectory on its second day of public trading, rising nearly 8% intraday and pushing cumulative gains past 25% from the $135 IPO price.
The company raised $75 billion by selling 555.6 million shares, making it the largest initial public offering in history. Shares closed their first trading day at $160.95, a 19.2% pop that vaulted SpaceX’s market capitalization above $2.1 trillion.
From launchpad to orbit in two days
SpaceX priced its IPO at $135 per share on June 11, with trading beginning the following day on Nasdaq under the ticker SPCX. The first-day close of $160.95 represented the kind of return that makes institutional allocators feel very smart about their early positioning.
By the second trading day on June 15, shares tacked on another 8% intraday. That puts SPCX north of $173 per share at the session highs.
