Welcome to our business segment. Today, we're covering the highly anticipated public trading debut of SpaceX under the ticker symbol $SPCX.
The company began trading today, opening at a price of $135 per share.
By the closing bell, the stock had risen significantly, reaching $160.95 per share.
This marked an impressive 19% gain on its first day of trading.
The surge pushed SpaceX's total valuation to approximately $1.8 trillion.
Reports indicate the Initial Public Offering, or IPO, was heavily subscribed, with institutional investors placing orders that significantly exceeded the available shares before trading even commenced.
This event signifies SpaceX's transition from being the world's largest private company to establishing itself as a major public technology giant.