SpaceX (NASDAQ: SPCX) raised $75 billion for the biggest initial public offering ever, and the stock surged more than 20% today in its first moments of trading on the Nasdaq.
The Elon Musk-led company sold shares at $135 apiece, the stock opened at $150 and quickly jumped to $165, valuing the company at more than $2.1 trillion
SpaceX’s IPO has drawn much attention and excitement in recent days due to its sheer size as well as the company’s presence in three compelling growth markets: rocket launches, artificial intelligence (AI), and satellite-based internet services. The presence of Musk, known for his focus on innovation, has also made some investors sit up and take notice. Now, as SpaceX begins its story as a publicly traded company, here’s what investors need to know.
SpaceX shares for retail investors So, first, let’s go through the technical points of what is unfolding. SpaceX confirmed on June 11 that it would sell more than 555 million shares for $135 apiece as part of the offering. Musk initially aimed to allocate 30% of the IPO shares to retail investors, according to early press reports.