Shares of SpaceX surged to $150 when trading began Friday morning, a gain of 11% over the $135 IPO price, with the company listing on the Nasdaq under the ticker SPCX.
By later in the session, the price had climbed further to $160, representing a roughly 19% premium to what investors paid at the offering
Trading kicked off at 11:46 a.m. Eastern time on a volume of 58.2 million shares, according to MarketWatch. That opening price put SpaceX’s market capitalization at $1.96 trillion, enough to rank it sixth among U.S. companies by value and above both Meta and Tesla.
The offering involved 555.6 million shares priced at $135 apiece, generating $75 billion in proceeds for the company. The deal was the largest IPO on record. At the offering price, the company was valued at $1.77 trillion.