Musk’s SpaceX opens at $1.77 trillion in the largest IPO ever

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleGwynne Shotwell (c), SpaceX President and Chief Operating Officer, celebrates with SpaceX employees and executives after they rang the opening bell at the Nasdaq MarketSite to celebrate the launch of SpaceX's initial public offering (IPO) in New York on June 12 (AFP/Getty)SpaceX made its NASDAQ debut on Friday in a $75 billion IPO that values the company at $1.77 trillion, making it the world’s largest IPO and one of the biggest U.S. public companies.Shares were indicated to open around $171, marking a 27% jump from the $135 IPO price, though actual trading is expected to start midday as underwriters balance supply and demand.The listing is a major test for Wall Street’s trading infrastructure, with exchanges and market makers aiming to avoid technical glitches like those seen during Meta’s 2012 IPO.Despite posting a nearly $5 billion loss last year on $18.7 billion in revenue, SpaceX’s debut cements Elon Musk as the first trillionaire and puts its price-to-revenue ratio at 94.5. The IPO is viewed as a bellwether for investor appetite ahead of other mega-listings, including Anthropic and OpenAI, and is expected to trigger portfolio shifts that could pressure other tech and space stocks.The IPO is viewed as a bellwether for investor appetite ahead of other mega-listings, including Anthropic and OpenAI, and is expected to trigger portfolio shifts that could pressure other tech and space stocks.In fullGiant inflatable Elon Musk appears in Times Square ahead of SpaceX IPOThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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