SpaceX jumps 19% after $75 billion IPO priced at $135 a share
What's new: The stock opened at $150, hit $176.52 and drew an unusually large retail allocation in the low 20% range.
SpaceX shares surged in their Nasdaq debut Friday after the company raised about $75 billion in an initial public offering priced at $135 a share, valuing Elon Musk's rocket and satellite company at roughly $1.77 trillion. The stock opened at $150, climbed more than 30% intraday to $176.52 and finished up more than 19% at about $161, CNBC reported. The offering made an unusually large slice of shares available to individual investors, with retail allocation in the low 20% range, far above the 5% to 10% typical for most IPOs. Even so, some buyers told CNBC they saw the valuation as steep and were betting on first-day momentum rather than long-term value.