Lates News

SpaceX (SPCX.O) soared on its first day of trading on Nasdaq, with a market value surpassing $2 trillion. The listing was smoother than many observers had expected. The stock traded mostly flat on Friday morning, with fluctuations of 15% to 30% compared to Thursday's pricing. By the close of trading, the stock was up around 19% to about $161, making the company the sixth largest in the United States. The final settlement price is yet to be determined. The trading volume for this transaction exceeded 500 million shares, with a total value of around $80 billion. With large IPO plans from Anthropic and OpenAI looming, market observers had previously worried that an influx of new stocks after a long period of relative scarcity could drag down market performance. However, investors ranging from large institutions to Musk's individual fans were in high spirits by the end of the day. "SpaceX not only broke records in the size of its IPO funding, but also left other large companies far behind. To see such a significant increase in market value in a flash when the initial valuation was already close to $2 trillion is truly impressive," said Dan Coatsworth, market director at AJ Bell.