SpaceX Soars 20% in Blockbuster Nasdaq Debut, Raising $75B in Largest IPO Ever

SpaceX stock began trading at $150 per share on Friday and quickly climbed to $162, signaling a successful launch for one of the most anticipated initial public offerings in recent history.

As an analyst following the market, I’m tracking a historic IPO today. SpaceX priced its initial public offering at $135 per share yesterday. The company sold a significant number of shares – 555.6 million to be exact – which resulted in raising $75 billion. This is officially the largest IPO we’ve ever seen.

Bitcoin was roughly flat at $63,400, while AI-related crypto stocks saw modest gains.

I remember when Specx first hit the Nasdaq – its ticker was SPCX. At the initial public offering price, the company was worth around $1.8 trillion, which was pretty incredible to see as an investor.

This launch marks the first time everyday investors can buy stock in a company that’s revolutionized space travel with reusable rockets and created a massive satellite network through Starlink. Starlink’s internet service is quickly growing, providing connectivity to people in remote locations where regular internet isn’t available.

Last year, SpaceX earned approximately $19 billion through its various ventures, including launching rockets, fulfilling government agreements, and providing service with its Starlink satellite network.

Investors are increasingly interested in companies that own significant amounts of bitcoin. SpaceX, for example, reported holding 18,712 bitcoin as of March 31st. With bitcoin trading around $63,500 recently, SpaceX’s holdings are now worth almost $1.2 billion.