SpaceX stock, owned by Elon Musk, entered the Nasdaq stock exchange through an Initial Public Offering (IPO) and set an unprecedented record on its very first day.
The initial offering price was set at $135 per share, but its value surged to as high as $176, closing at nearly $161 at the end of the first day's trading; this represents a growth of approximately 19% on the first trading day.
Following this remarkable surge, SpaceX's market capitalization exceeded the $2.3 trillion mark, making it the sixth most valuable company in the United States. Concurrently with this event, Elon Musk's wealth also surpassed the $1 trillion threshold.
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SpaceX is not just a space company; it is the developer of major projects such as Falcon, Starship, and the Starlink satellite internet. It is worth noting that the company's current valuation is extremely high, and the capital market is focusing more on the company's future prospects and potential rather than its current profitability.
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Breaking News: SpaceX Trading Restrictions Lifted; Largest Stock Unlock in History
SpaceX in talks with Pentagon