tech
SpaceX IPO Sticks the Landing. Here's What Investors Are Saying About Its Epic First Trading Day
Despite a large retail allocation and huge volume, volatility was moderate
TL;DR
- SpaceX's IPO debuted on Nasdaq with a closing price over $160, a market capitalization exceeding $2.1 trillion.
- The stock opened at $150, significantly above its offering price of $135, and continued to rise in after-hours trading.
- Despite a large retail allocation (up to 30%), trading volatility was moderate, contrary to some Wall Street concerns.
- Analysts are evaluating SpaceX's long-term viability, focusing on the Starship rocket, AI monetization, and cash flow generation.
- CFRA issued a sell rating shortly after trading began, but the stock's performance suggests these concerns are being deferred.
- SpaceX is being considered as part of a new category of market-defining mega-cap stocks, alongside tech giants like Nvidia, Microsoft, and Google.