SpaceX Shares Surge More Than 27% in Historic Nasdaq Debut

Shares of SpaceX soared more than 27% in their highly anticipated Nasdaq debut on Friday, marking one of the most significant stock market listings in recent history.

Trading under the ticker symbol SPCX, the stock opened at $172 per share, sharply above its initial public offering (IPO) price of $135.00, delivering an immediate gain of approximately 27.4% for investors.

The rally propelled SpaceX's market capitalization beyond the $2 trillion threshold, significantly exceeding its IPO valuation of $1.77 trillion and instantly positioning the company among the world's most valuable technology enterprises.

SpaceX's $75 billion public offering shattered the previous record set by Saudi Aramco's landmark 2019 listing, making it the largest IPO in history. The offering valued the company at $1.77 trillion, although some analysts had expressed concerns that the valuation reflected exceptionally high growth expectations.

Market participants view the listing as a crucial test of investor appetite for large-scale technology offerings ahead of potential future IPOs from high-profile artificial intelligence companies, including OpenAI and Anthropic.

Trading commenced shortly after the market open following the accumulation of buy and sell orders needed to establish an opening price. Several analysts had predicted an opening-day gain of more than 20%, highlighting strong demand from institutional and retail investors.

Senior company executives participated in Nasdaq's opening bell ceremony at 9:30 a.m. New York time, underscoring the significance of the event for both the company and the broader technology sector.

Speaking from Texas before trading began, SpaceX founder Elon Musk reflected on the company's uncertain beginnings. "I thought there was no more than a 10% chance of success," Musk said.

Analysts suggest that the stock's performance will serve as a fresh test of the so-called "Musk Premium", the market phenomenon that has historically supported elevated valuations for Musk-led companies such as Tesla despite periods of volatility.

Key metrics from the offering underscore both the company's scale and the debate surrounding its valuation:

IPO Size: $75 billion (largest in history)

Initial Valuation: $1.77 trillion

Market Capitalization After Debut: More than $2 trillion

Projected 2025 Revenue: $18.7 billion

Price-to-Revenue Ratio: Approximately 94x