SpaceX closes up 56%, ending first day at $2.1 trillion
What's new: The $75 billion IPO became the largest on record and put SpaceX among the six most valuable U.S. companies.
SpaceX surged in its Nasdaq debut Friday, ending its first trading day with a market value of about $2.1 trillion after shares closed well above the $135 IPO price. The rocket company had already raised $75 billion in the offering, immediately valuing it at $1.77 trillion and making it the largest IPO ever. The stock's opening was closely watched as a stress test for Wall Street trading systems and as a gauge of investor appetite for other giant listings, including Anthropic and OpenAI. Even with the blockbuster reception, SpaceX posted a nearly $5 billion loss last year, highlighting how strongly investors are backing Elon Musk's growth story.