Key facts
- SpaceX shares closed up 19% at $160.95 on their debut.
- The company's market capitalization reached nearly $2.3 trillion.
- Founder Elon Musk became the world's first trillionaire.
- The IPO was reportedly oversubscribed by 4x.
- Approximately 4% of SpaceX shares were available for public trading.
- Early investors like Founders Fund saw substantial returns.
SpaceX commenced trading on the Nasdaq, with its shares opening at $150, an 11% increase from its $135 IPO price, and closing the day up 19% at $160.95. This surge propelled the company's market capitalization to nearly $2.3 trillion, making founder Elon Musk the world's first trillionaire. The IPO was reportedly oversubscribed by four times, with only about 4% of shares available for public trading, contributing to the strong debut. Early investors, including Founders Fund, Andreessen Horowitz, and Sequoia, saw significant value appreciation in their stakes. The event is also expected to make thousands of employees millionaires. The buzz surrounding the SpaceX IPO also influenced the cryptocurrency market, with Dogecoin prices spiking and Bitcoin briefly crossing the $64,000 support level.