SpaceX stock opened at $150 on Friday before rising to $162, marking a strong start to one of the most closely watched stock market debuts in recent years.
The aerospace and satellite internet company on Thursday priced its IPO at $135 per share. SpaceX sold 555.6 million shares, raising $75 billion in what is the largest IPO ever.
Bitcoin was roughly flat at $63,400, while AI-related crypto stocks saw modest gains.
Trading under the symbol SPCX on Nasdaq, the company was valued at approximately $1.8 trillion based on the IPO price.
The debut gives public investors their first chance to own shares in a company that has reshaped the commercial space industry with 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.
