SpaceX shares soar 30% midday, vaulting it to top six most valuable U.S. companies
SpaceX debuted on the Nasdaq with a strong performance, with shares rising 30% and pushing the company's market capitalization to $2.3 trillion. The IPO has created significant wealth for employees and venture capital firms, potentially making Elon Musk the world's first trillionaire.
Why it matters
The massive valuation of SpaceX marks a historic milestone in the aerospace and public markets sectors.
SpaceX lifted off on its first day as a public company, immediately jumping to $150 a share after it began trading on the Nasdaq, around 11% higher than the $135 figure at which it officially priced its IPO on Thursday. The stock price reached as high as $176 in midday trading, pushing the company s market capitalization to nearly $2.3 trillion, making SpaceX the sixth most valuable public company in the U.S.
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