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Friday marked one of the biggest days in stock market history as SpaceX, the most hotly anticipated stock market debut ever, blew past expectations in its first day of trading. Elon Musk’s rocket, satellite, and AI empire made its long-awaited debut on both the Nasdaq Global Select Market and Nasdaq Texas under the ticker SPCX, capping a 24-year run as the most valuable, and most scrutinized, private company in the world. SpaceX opened at just above $150 a share (up 11.11% from the $135 IPO price) just after 11:46AM. Trading turnover exceeded $11.4 billion at open.
The valuation surged Musk’s net worth above $1 trillion and SpaceX’s valuation to more than twice that—with the company’s market cap reaching $2.1 trillion.
The official trading start was delayed due to intense order matching activity, in which investors who refreshed brokerage accounts on Friday morning saw that SPCX was public, but there were no trades.
At noon Friday, the stock was hovering between $162 and $165. By 1PM, it soared to $175, up nearly 30% from its target price, before settling at above $169. An hour later, SpaceX traded more than 360 million shares, 10 times the total volume that 2026’s second-largest IPO, Cerebras, posted in its first day of trading.
Thirty minutes before market close, the stock remained steady at just over ...
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