SpaceX shares closed at $160.95 on Thursday, their first day of trading on the Nasdaq, a gain of nearly 19 percent from the $135 initial public offering price. The result made the company’s debut the most profitable opening day in the history of the US stock market for any newly listed company.
The stock opened at $150 and briefly surged above $176 in early trading, pushing SpaceX’s market value past $2.25 trillion at intraday highs. It settled at $160.95 by the closing bell, giving the company a final first-day market capitalization of around $2.11 trillion.
The IPO raised $75 billion in total, the largest single capital raise in stock market history, eclipsing Saudi Aramco’s 2019 offering. Institutional demand was reported at more than 40 times oversubscription at the $135 listing price.
The gains on day one made Elon Musk the world’s first individual to surpass $1 trillion in personal net worth. Musk retains a roughly 40 percent stake in SpaceX through various holding structures. Forbes and Bloomberg’s wealth trackers placed his net worth at approximately $1.04 trillion as of Thursday’s close.
SpaceX generated approximately $15 billion in revenue in 2025, driven primarily by its Starlink satellite internet business, which now serves more than 8 million subscribers globally. The Falcon 9 launch vehicle remains the world’s most flown rocket.
Analysts at JPMorgan set a 12-month price target of $195, while Morgan Stanley opened coverage at $210. The Securities and Exchange Commission confirmed the registration. Background on the SpaceX IPO pricing and the earlier tokenized share launch rounds out the picture. Anthropic’s IPO earlier in the year set the stage for this tech listing wave.
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