Odaily reported that SpaceX rose sharply on Friday during its first day of trading on Nasdaq, with its market value surpassing $2 trillion. The debut was smoother than many observers had expected. Trading in the stock began late Friday morning, and for most of the session it stayed 15% to 30% above Thursday’s pricing level, with relatively limited intraday volatility.
First-day turnover reached about $80 billion
By the close, SpaceX shares were quoted at about $161, up 19% on the day. That move placed the company among the six largest companies in the United States by market value. The final settlement price has yet to be determined. Trading activity was heavy, with volume exceeding 500 million shares and total turnover of roughly $80 billion, making liquidity one of the central features of the debut session.
Before the listing, market observers had expressed concern that a large wave of new share offerings could weigh on market performance after a long period in which IPO supply had been relatively scarce. Large listing plans from Anthropic and OpenAI were already building momentum, adding to questions over whether the market could absorb a heavier flow of new stocks. SpaceX’s relatively orderly first day meant that those concerns did not dominate Friday’s trading.
Institutions and Musk’s retail fan base ended the day upbeat
Investor sentiment was elevated at the close among a broad range of buyers, from large institutions to retail fans of Elon Musk. As a newly listed stock, SpaceX not only entered the ranks of the largest U.S. companies with a valuation above $2 trillion, but also showed strong participation through its reported volume and turnover.
Dan Coatsworth, head of markets at AJ Bell, said: “SpaceX has not only broken records in the size of its listing, it has also left other major companies far behind. When the starting valuation is already close to $2 trillion, adding so much market value in such a short time is impressive.” The report was cited by Jinshi.