SpaceX just pulled off the largest IPO in history. And then the stock kept climbing.
Shares of Elon Musk’s space exploration company priced at $135 on the Nasdaq and closed their first trading day at roughly $160.95, a 19% pop. By the third session on June 15, the cumulative gain had ballooned to nearly 50%, pushing SpaceX’s market capitalization to approximately $2.5 trillion.
The IPO raised $75 billion, shattering every previous record for a public listing. For context, Saudi Aramco’s 2019 IPO raised around $25.6 billion, which held the crown for years. SpaceX nearly tripled that figure.
Retail investors showed up in force
One of the more striking details of this listing is who got access. Retail investors, particularly those trading through Robinhood, accounted for up to 30% of the IPO allocation.
