SpaceX shares opened at $150 on Friday before rising to $162, marking a strong start to one of the most closely watched stock debuts in recent years.
The aerospace and satellite Internet company priced its initial public offering at $135 per share on Thursday. SpaceX sold 555.6 million shares, raising $75 billion in what is considered the largest initial public offering in history.
bitcoin was broadly flat at $63,400, while AI-related cryptocurrency stocks posted modest gains.
Trading under the symbol SPCX on Nasdaq, the company had been valued at approximately $1.8 trillion based on the IPO price.
The debut gives public investors their first opportunity to own shares of a company that has reshaped the commercial space industry through reusable rockets and built one of the world’s largest satellite networks through Starlink. The satellite Internet business has become a major source of growth, serving customers in remote areas where traditional broadband can be difficult to access.
SpaceX generated about $19 billion in revenue last year from launch services, government contracts and Starlink operations.
