Editor’s note: This article has been updated to correct SpaceX’s market cap comparison with other large U.S. companies.
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.
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
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.
Photo: JRdes / Shutterstock