SpaceX jumps 20%, pushing valuation above $2.5 trillion
What's new: The rally added $412 billion in a day and left the stock more than 42% above its $135 IPO price.
SpaceX shares climbed 20% Monday in their second day of trading, extending a 19% gain from their Friday debut and lifting the company’s market value to more than $2.5 trillion. The stock closed at $192.46, more than 42% above its $135 IPO price, after the company exercised its over-allotment option to let underwriters sell another 83.3 million shares. That raised the deal size to $86.2 billion, or $85.7 billion after $500 million in underwriting expenses listed in the prospectus. The strong debut also eased concerns about whether markets could absorb such a large IPO and added momentum to expectations for possible listings by Anthropic and OpenAI.