Space Exploration Technologies (SpaceX) set its IPO price at $135 per share, and the stock quickly climbed to $176.52 before ending the session at $160.95, delivering a 19% gain for investors.
First-Day Trading Surge
The opening trade propelled SpaceX shares above the IPO level, reaching a high of $176.52 within minutes. By the close, the price settled at $160.95, confirming strong demand and a solid market reception. Analysts attribute the momentum to Musk’s reputation and the broader excitement surrounding the company’s blockchain and crypto‑related projects.
Valuation and Market Position
SpaceX’s closing price pushed its market capitalization to roughly $2.1 trillion