SpaceX (SPCX) made its significant public debut, raising a record-breaking $85.7 billion following the underwriters’ overallotment option. This surpasses the previous global record and establishes SpaceX’s market capitalization at $2.1 trillion, positioning it among the largest corporations worldwide. The stock opened on the Nasdaq before 12:00 p.m. ET at $150 per share, reaching $160.95 during the session, a 19.2% increase from its initial pricing.
The trading volume exceeded 500 million shares without triggering a “Limit Up/Limit Down” volatility pause, highlighting the strong institutional and retail support. Nasdaq’s President, Nelson Griggs, emphasized the coordinated effort behind the debut, which used a fixed-price model to manage investor expectations. Notably, the 20% retail allocation, translating to $15 billion, played a crucial role in providing price stability amidst high demand.
SpaceX’s CFO, Brett Johnson, confirmed that the capital raised will fund long-term infrastructure initiatives, including space launch capabilities and global satellite connectivity. This historic listing is seen as a transformative moment in economic investment, signifying a stake in the future of the global economy.
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