PANews, June 13th. According to Jinshi, SpaceX (SPCX.O) surged on its first day of trading on the Nasdaq on Friday, with its market capitalization exceeding $2 trillion. The listing went smoother than many observers had expected. The stock began trading late Friday morning, fluctuating between 15% and 30% above Thursday’s pricing for most of the session, without significant volatility. It closed at around $161 per share, up 19%, making it the sixth-largest company in the U.S. The final settlement price is yet to be determined. The trading volume exceeded 500 million shares, with a transaction value of about $80 billion.
With major listing plans from Anthropic and OpenAI on the horizon, market observers had worried that a flood of new shares could weigh on market performance after a prolonged IPO drought. However, investors, from large institutions to Elon Musk’s retail fans, were in high spirits by the close. Dan Coatsworth, head of market at AJ Bell, said: ‘SpaceX hasn’t just broken records in terms of IPO fundraising size; it has also left other big companies far behind. When the starting valuation is already close to $2 trillion, adding that much market cap in an instant is impressive.’
