{"id":732508,"date":"2026-06-12T18:32:13","date_gmt":"2026-06-12T18:32:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/732508\/"},"modified":"2026-06-12T18:32:13","modified_gmt":"2026-06-12T18:32:13","slug":"spacex-stock-surges-in-1st-day-on-wall-street-everything-you-need-to-know-national","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/732508\/","title":{"rendered":"SpaceX stock surges in 1st day on Wall Street. Everything you need to know – National"},"content":{"rendered":"

SpaceX<\/a> officially launched as a publicly traded company Friday morning on the NASDAQ exchange, and Elon Musk\u2019s<\/a> company carries the largest valuation ever seen for a Wall Street<\/a> debut.<\/p>\n

\"\"<\/p>\n

As of 2:00 p.m. Eastern time, SpaceX shares were spiking nearly 28 per cent to about US$173 compared to the initial price of US$135, and the company has a value of more than $2 trillion by market cap.<\/p>\n

This also made Musk the world\u2019s first trillionaire<\/a> based on his large ownership of the company.<\/p>\n

SpaceX has its sights set on some major projects, including more rocket launches both manned and unmanned, construction of AI infrastructure in space along with satellites, ambitions of lunar landings and even missions to Mars.<\/p>\n

These projects come at a hefty cost, and the IPO (Initial Public Offering) is expected to provide capital funding for many of these projects depending how popular it becomes.<\/p>\n

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\t\t\t\t\tSpaceX employees celebrate during a bell ringing ceremony for the IPO of SpaceX at the Nasdaq MarketSite in New York, Friday, June 12, 2026, in New York.\t\t\t\t <\/p>\n

\t\t\t\t\tAP Photo\/Frank Franklin II\t\t\t\t<\/p>\n

But what makes this launch so distinct?<\/p>\n

At least one investing expert says SpaceX becoming a publicly traded company is more than just an investing story because \u201cit touches the human spirit.\u201d<\/p>\n

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\u201cOne can\u2019t help but get excited about\u00a0the new frontiers and what they\u2019ve been able to accomplish,\u201d says Paul McDonald, president and co-chief investment officer at Harvest ETFs.<\/p>\n

\u201cThe space frontier is something that there has not been a lot of investable options for people, but just the sheer broad interest, from a human perspective, I think that\u00a0has captured a\u00a0broader interest than perhaps just the investment industry.\u201d<\/p>\n

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSpaceX taking \u201cthe fiction out of science fiction,\u201d Musk says at historic Wall Street debut\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

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SpaceX priced its shares initially at US$135 each, which made the total value of the company approximately $1.75 trillion dollars at the time, and based on the number of shares that will eventually be available to buy. Only about $75 billion worth of the shares that make up that total will be made available today, which could increase demand and send the price higher.<\/p>\n

\u201cIt\u2019s by all accounts a massive, massive company. Not only is it the largest IPO in history, but it\u2019s the largest by order of magnitude,\u201d says portfolio manager and chief investment officer Josh Sheluk at Verecan Capital Management.<\/p>\n

\u201cTypically a company becomes public and it gradually grows in size. Maybe it starts at five billion or 10 billion or 20 billion, or even a hundred billion dollars worth of company. Now you have a company that\u2019s again, potentially IPOing at a $1.75 trillion valuation, which forces it to be one of the largest positions in all these indexes right off the bat.\u201d<\/p>\n

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\t\t\t\t\tPeople watch from outside the Nasdaq MarketSite during a bell ringing ceremony for the IPO of SpaceX in New York, Friday, June 12, 2026, in New York.\t\t\t\t <\/p>\n

\t\t\t\t\tAP Photo\/Frank Franklin II\t\t\t\t<\/p>\n

Bloomberg is also reporting that level of demand, or the amount of money buyers are potentially putting forward to buy a piece of SpaceX, \u00a0is about $350 billion. That\u2019s compared to the approximately $75 billion worth of shares initially listed.<\/p>\n

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Stocks sank for some other companies involved in space as SpaceX entered the niche market.<\/p>\n

On Friday, shares of Rocket Lab Planet Labs slumped about eight per cent each as of 1:30p.m. Eastern time , while Intuitive Machines plunged 11 per cent. AST SpaceMobile, a much smaller rival to\u00a0SpaceX\u2019s Starlink satellite business, fell more than 12 per cent.<\/p>\n

Aerospace and space travel company Virgin Galactic sank\u00a0some 28 per cent. The stock, with a ticker similar to\u00a0SpaceX\u2019s \u2018SPCX\u2019, surged more than 20 per cent on Thursday, with some pointing to a boost from investors confusing it with\u00a0SpaceX.<\/p>\n

Many day traders on the floor of Wall Street and arm-chair investors alike will be able to get a chance to own a piece of SpaceX while limited shares last.<\/p>\n

\u201cMost of the shares will become available for sale over the course of the year. And so that might change the balance of supply and demand,\u201d said equity analyst Nicolas Owens at Morningstar speaking to Reuters.<\/p>\n

\u201cAnd then everyone will be monitoring these operational milestones around starship reusability, the commercial model for data centers in space.\u201d<\/p>\n

\u2013 With files from Reuters<\/p>\n

\u2013 More to come<\/p>\n

\n\t\t&copy 2026 Global News, a division of Corus Entertainment Inc.\t<\/p>\n","protected":false},"excerpt":{"rendered":"SpaceX officially launched as a publicly traded company Friday morning on the NASDAQ exchange, and Elon Musk\u2019s company…\n","protected":false},"author":2,"featured_media":732509,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,250,134,6888,121,64,2845,6495,3275],"class_list":["post-732508","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-elon-musk","tag-money","tag-spacex","tag-stock-market","tag-tech","tag-u-s-news","tag-wall-street","tag-world"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/732508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=732508"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/732508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/732509"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=732508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=732508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=732508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}