SpaceX Closes First Trading Day at $160.95 After IPO
Space Exploration Technologies Corp. completed its initial public offering and closed its first trading session at $160.95, up 19 percent. The shares later traded at $166.85 in after-hours activity on Friday.
Space Exploration Technologies Corp. completed its initial public offering on Friday, selling 555.6 million shares at $135 each and raising $75 billion. The stock opened at $150, reached a high of $176.52, and closed the regular session at $160.95, a gain of 19 percent that valued the company at $2.1 trillion.
CEO Elon Musk posted on X on Sunday, quoting a 2015 statement made while the company worked to land a Falcon 9 rocket upright. The post read, "If this works, I'm treating myself to a volcano lair. " Musk added that it was time to obtain the volcano lair he had wanted, mentioning options listed in the "Beyond" section of Bed Bath & Beyond.
The company achieved the first upright landing of a Falcon 9 booster in December 2015. SpaceX shares traded 3.67 percent higher at $166.85 in after-hours activity on Friday. Sen. Elizabeth Warren and Gov.
Gavin Newsom stated that many Americans continue to face difficulty obtaining everyday goods and fuel while Musk reached a net worth of $1.1 trillion according to the Bloomberg Billionaires Index.
