SpaceX shares surged 17% from their IPO price after raising $86 billion in a highly oversubscribed offering.
SpaceX completed its NASDAQ debut, raising $86 billion as demand for shares far exceeded supply. Underwriters exercised a 15% overallotment option to meet investor interest, reflecting strong appetite for the space exploration firm.
The stock opened with a 50% gain but trimmed some of those advances, trading 17% above its IPO price at the latest check. Historical data on large U.S. IPOs shows an average three-month gain of 13%, though performance varies widely.
Retail and institutional investors remain drawn to SpaceX due to its long-term growth potential in space travel, though valuations may limit near-term upside.