SpaceX just obliterated Facebook’s 14-year options record by more than 4X — 1.6 million bets in a single day SpaceX (NASDAQ: SPCX) is rocking Wall Street — and traders are piling on to get a piece of the action.
Just a few days after the company went public on June 12, Elon Musk’s rocket-and-AI company started options trading Tuesday, and the bets rolled in faster than they have for any other company in history
More than 1.6 million contracts changed hands on day one, according to Bloomberg data cited by Business Insider (1) — that’s more than four times the 364,000 first-day record set by Facebook when its options debuted in 2012. SpaceX, which filed to go public this spring (2) and priced its IPO at $135 a share (3), sold more than 555 million shares to raise roughly $75 billion — the largest IPO in history, eclipsing Saudi Aramco’s Wall Street debut in 2019. But things have yet to settle: By Tuesday’s close, it traded around $202, about 50% above its offering price.
SpaceX’s market value briefly leapfrogged both Amazon and Microsoft (4) to rank among the most valuable companies in the US. Must Read – – – Millionaires under 43 hold only 25% of their wealth in stocks. Surprised?