Shares of Elon Musk’s aerospace and satellite firm surged during their Nasdaq debut, closing 19 percent above the initial price after the largest initial public offering ever recorded.
SpaceX began trading on Friday under the ticker SPCX. The company priced shares at $135, saw an intraday high near $176, and settled at $160.95. The offering raised $75 billion through underwriters led by Goldman Sachs, pushing the company’s market capitalization to approximately $2.3 trillion.
A significant disclosure within the IPO filings revealed a corporate treasury holding of 18,712 Bitcoin, valued at roughly $1.3 billion. This positions the aerospace giant alongside a select group of major public companies utilizing the digital asset as a reserve instrument.
Financial analysts are closely monitoring potential short-term capital rotation from digital assets into the newly public stock. The heavy trading volume and momentum of a historic listing often create a temporary gravitational pull on institutional investment flows.
The financial outcome has catapulted Musk’s personal net worth past the $1 trillion threshold, effectively making him the world’s first trillionaire based on his combined stakes in SpaceX, Tesla, and other ventures. The company had confidentially filed its paperwork in April, followed by a prospectus submission in May and an institutional roadshow in June that generated overwhelming demand.