Space Exploration Technologies Corp. (NASDAQ:SPCX) made history Friday, closing its first day of trading at $160.95 per share — a gain of 19.22% from its $135 IPO price.
- SPCX stock closed its first day of trading. See all of the news and price action here.
The debut capped the largest IPO in history, with the company raising $75 billion through a sale of 555.6 million primary shares.
Shares opened at $150, reflecting immediate institutional and retail demand well above the offering price of $135.
Trading was volatile, but broadly upward through the session. SPCX hit an intraday high of $170 before pulling back, ultimately settling at $160.95 on volume of approximately 508 million shares, according to Benzinga Pro.
At the closing price, SpaceX’s market capitalization stands at roughly $2.11 trillion, placing it among the most valuable U.S.-listed companies, ahead of Alphabet Inc. (NASDAQ:GOOGL) and close to the territory occupied by Microsoft Corp. (NASDAQ:MSFT) and Apple Inc. (NASDAQ:AAPL).
The offering was structured entirely as a primary raise — no insiders sold shares. Founder and CEO Elon Musk, along with other early stakeholders, are subject to a 366-day lockup period.
Musk Is A Trillionaire
Musk’s stake in SpaceX — valued at roughly $1.26 trillion at Friday’s close — officially made him the world’s first trillionaire. His combined holdings across SPCX and Tesla Inc. (NASDAQ:TSLA) now place his net worth in territory no individual has ever reached.
Wedbush Securities analyst Dan Ives called the listing a watershed moment, framing SPCX’s debut as the opening salvo of an “IPO supercycle” he expects will pave the way for listings by Anthropic and OpenAI.
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