SpaceX opens above its IPO price in Nasdaq debut and the rich get richer
The shares opened at $150, 11% above the $135 IPO price, giving Elon Musk's space business its first public-market mark.
By Ryan Merket · Published
Primary source: Bloomberg Technology
Why it matters
SpaceX's IPO turns one of the private market's benchmark companies into a public comp, forcing investors to price Musk's launch, satellite and infrastructure bets in real time.
SpaceX, the rocket and satellite business founded by Elon Musk, began trading on Nasdaq on Friday, opening at $150 a share at 11:46 a.m. in New York, Bloomberg Technology reported.
The opening trade was 11% above SpaceX's $135 offering price, according to Bloomberg. The shares climbed as high as $168.75 in the first few minutes, a 25% gain from the IPO price and a 12.5% move above the opening trade.…
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