SpaceX stock jumps nearly 20% on first trading day

SpaceX's stock soared on its debut, closing at $161 per share, a nearly 20% increase from its initial offering price of $135. The company's first day of trading on the New York Stock Exchange marked the largest IPO in history, generating an estimated $75 billion and valuing SpaceX at over $2.1 trillion.

The significant demand for SpaceX shares led to a trading price of $150 at the market's opening, already an 11% jump from the introductory price. This valuation places SpaceX among the top ten largest companies on the U.S. stock market, surpassing the market value of Elon Musk's other ventures like Tesla, Meta, and Walmart.

Elon Musk, the founder and CEO of the aerospace giant, shared his enthusiasm on his social media platform X, stating, "I have no words for how much I love the incredible people who work at SpaceX." The successful IPO also propels Musk's personal fortune to over $1 trillion, making him the world's first trillionaire.

Founded in 2002, SpaceX has been instrumental in hundreds of rocket launches and is a key partner for NASA. A substantial portion of its revenue comes from Starlink, its extensive satellite internet network. The trading of SpaceX shares began slightly before 6:00 PM Danish time, after initial consensus on the share price due to high demand.

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I have not words for how much I love the incredible people who work at SpaceX.