SpaceX began trading on Nasdaq on Friday after completing a record initial public offering. The company sold 555 million shares at $135 each, raising about $75 billion.
The stock opened at $150, about 11% above the IPO price, in a debut that several sources described as the biggest or most anticipated IPO ever. Early trading pushed the company’s valuation above $2 trillion, after the IPO pricing had valued SpaceX at about $1.77 trillion.
The listing also drew attention to Elon Musk, with one report saying the offering made him the first trillionaire on paper. Before the debut, JPMorgan data showed hedge funds were selling broader U.S. tech stocks and adding bearish positions.
An IPO, or initial public offering, is when a private company sells shares to the public for the first time.
The sources say SpaceX raised about $75 billion by selling 555 million shares at $135 each.
One source said the stock opened at $150, which was about 11% above the IPO price.
The IPO pricing valued SpaceX at about $1.77 trillion, and early trading pushed that figure above $2 trillion.
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