SpaceX shares closed at $161 on Friday, their first day of trading on the Nasdaq, a gain of 19 percent from the $135 IPO price set the night before. The stock opened at $150 and traded in a range between $148 and $167 during the session. The first-day performance was the strongest for any US IPO raising more than $10 billion in history.
The closing price puts SpaceX’s market capitalisation at approximately $2.1 trillion, well above the $1.77 trillion implied by the IPO price. At that valuation, Elon Musk’s stake in the company, combined with his holdings in Tesla and other ventures, puts his net worth above $1 trillion, making him the first person in history to reach that threshold. Bloomberg Billionaires Index confirmed the figure on Friday evening.
Volume on the first day was exceptionally heavy. Over 400 million shares changed hands on the Nasdaq by the closing bell, making SPCX one of the most actively traded stocks ever on its debut. Retail investors accounted for a larger-than-usual share of buying, reflecting the 30 percent retail allocation SpaceX had specified in its prospectus.
The debut came a day after SpaceX raised $75 billion in the largest IPO ever recorded, surpassing Saudi Aramco’s $25.6 billion listing in 2019. Goldman Sachs, the lead underwriter, declined to comment on the first-day performance. Analysts who cover the space sector said the price gain reflected genuine investor enthusiasm for Starlink’s growth trajectory rather than speculative momentum alone.
Starlink, SpaceX’s satellite internet business, now serves more than 100 million customers globally and is adding subscribers at a rate that analysts project will push it past 150 million by the end of 2027. The business generates high-margin recurring revenue and is widely seen as the most valuable single asset within SpaceX as a public company.
The IPO prospectus published Thursday outlined SpaceX’s revenue and profit figures for the first time in detail, confirming strong growth across both launch services and Starlink. The broader technology sector rose modestly on the day, buoyed partly by the SpaceX debut. Tokenized SpaceX shares on Bybit tracked the Nasdaq price closely throughout the session. The broader financial market has had an unusually eventful week across both traditional equities and digital assets. SpaceX’s next public milestone will be its first quarterly earnings release as a listed company, expected in August. Full trading data for SPCX is available on the Nasdaq website.
