Economy News

SpaceX closes 19% up on its Nasdaq debut after a record $75 billion IPO, worth $2.1 trillion

SpaceX began trading on the Nasdaq on Friday 12 June under the ticker SPCX, a day after pricing its shares at $135. IPOScoop says the offering raised $75 billion, “the largest global IPO ever”. The stock opened at $150, about 11% above the offer price, and closed at $160.95, up 19.2%. Nasdaq.com puts the company's market value at $2.1 trillion at the close, on volume of more than 500 million shares, and says retail investors had submitted more than $100 billion in orders before the IPO, according to Bloomberg.

“SpaceX going public is an important moment for the broader tech sector in our view” — Dan Ives, Wedbush, via Business Today

How each outlet framed it

• IPOScoop — the record: a $1.8 trillion market value after pricing on 11 June, and a $26.11 gain per share on day one.
• Nasdaq.com — the trading day in detail, from the $150 open to an intraday peak of $176.52 before a pullback into the close, written up five days after the debut.
• Business Today (Malaysia) — the tech-sector signal, with Wedbush's Ives arguing the listing matters for technology broadly as AI and data advance; shares were more than 30% higher at one point and closed “nearly 20%” up.
• News24 (South Africa) — the headline story of a 19% gain on a “historic first day”.

Where the numbers differ: the day's high was $176.52 according to Nasdaq.com but $174.99 according to IPOScoop.