SpaceX Shares Surge After IPO Making Musk a Trillionaire

Summary

Bloomberg's Yahaira Anand reports from the Nasdaq on the fictional SpaceX IPO. The stock opened strongly after heavy oversubscription from both retail and institutional investors, briefly trading at a $2.2 trillion valuation above Meta, Tesla, and Saudi Aramco. Elon Musk did not attend, staying at Starbase in Texas, while company executives and early investors celebrated on the floor.

• SpaceX IPO begins trading on the Nasdaq after months of waiting.
• Shares surged 31% above the offering price at one point.
• The company reached a $2.2 trillion valuation, surpassing Meta, Tesla, and Saudi Aramco.
• Demand was enormous from both retail and institutional sides, with the deal heavily oversubscribed.
• Elon Musk did not ring the opening bell and remained at Starbase in Texas.
• SpaceX's president, CFO, and early investors were present at the Nasdaq.