SpaceX shares surged on Monday, extending the rally that followed the company's historic Nasdaq debut. The stock traded at $179.97, up $19.02 or about 12% by early afternoon, pushing its intraday market value to roughly $2.35 trillion. Investors are closely watching the move as the firm explores blockchain‑based services for its Starlink network.
Share Performance
The price climb represents the strongest post‑IPO momentum since the debut, with the Nasdaq‑listed ticker SPCX maintaining upward pressure. The $19.02 gain added significant weight to the market cap, reinforcing SpaceX's position among the most valuable public entities.
Investor and Market Reaction
Institutional investors responded by increasing exposure, citing the company's expansion into satellite broadband and potential crypto‑related applications. Analysts predict that the market will continue to reward the stock if SpaceX successfully integrates blockchain technology into its services.