SpaceX shares began trading on the Nasdaq on Thursday, opening at $150 per share and quickly surging to $168 in their highly anticipated debut. The milestone marks a record-breaking initial public offering for the private space company, reflecting strong investor demand for Elon Musk's venture.
Trading under the ticker symbol, the stock saw volatile early action as institutional and retail investors snapped up shares. The IPO price of $150 valued SpaceX at over $100 billion, making it one of the largest U.S. listings in recent years.
Analysts attribute the strong debut to SpaceX's dominant position in commercial spaceflight, its Starlink satellite internet business, and growing government contracts. The company's revenue has climbed steadily as it launches more rockets and expands its broadband network.