The first mistake investors can make with SpaceX is thinking the payday happened all at once.
SpaceX’s initial public offering gave retail investors a rare chance to invest in Elon Musk’s rocket, satellite and artificial intelligence enterprise. But for the company’s first believers, the IPO didn’t mark the beginning. It was the end of a bet that had demanded years of patience, illiquidity, and faith in a business plan that had once seemed practically unachievable.
SpaceX (SPCX) set its record IPO price of $135 a share, raising $75 billion from the sale of 555.6 million shares. Reuters said the IPO valued the company at about $1.75 trillion before shares began trading. The stock rose 19% in its Nasdaq debut, finishing at $160.95 and bringing SpaceX’s market cap above $2 trillion, Reuters reported.