Robinhood reports unprecedented platform traffic as SpaceX shares surge 11% in debut, pushing valuation past $2 trillion.
Robinhood experienced record-breaking traffic Friday following SpaceX’s Nasdaq debut, with some users facing temporary latency issues. The platform stabilized shortly after SpaceX shares opened at an 11% premium, valuing the company at over $2 trillion and making Elon Musk the first trillionaire.
Within the first hour, 263 million shares traded, representing $42 billion in volume. SpaceX released only 4% of its shares in the IPO, setting the stage for potential volatility as trading begins.
The surge in activity highlights heightened retail investor interest in high-profile public listings, though the limited float may amplify price swings.