Key facts
- SpaceX shares rose over 6% pre-market Monday, extending gains from its IPO.
- The company's valuation surpassed $2.1 trillion after its Nasdaq debut.
- Elon Musk became the world's first trillionaire following the IPO.
- SpaceX's IPO raised $75 billion, making it the largest in market history.
- The stock closed at $160.95 on IPO day, a 19.2% gain from the $135 offer price.
SpaceX's stock continued its upward trajectory on Monday, the first full trading day after its record-breaking initial public offering on the Nasdaq. The company's shares surged in pre-market trading, indicating a further increase in its market capitalization, which had already reached $2.1 trillion by the close of trading on Friday.
The IPO, which raised $75 billion, was the largest in market history. On its debut day, SpaceX shares climbed nearly 20% from their offer price of $135, closing at $160.95 per share. This rally minted numerous millionaires among SpaceX staff and propelled founder and CEO Elon Musk to become the world's first trillionaire.
The offering saw exceptionally high demand from retail investors, with one UK-based firm, AJ Bell, reporting more than five times the usual request volume for IPO shares. Analysts anticipate continued volatility but also potential inflows from passive funds.