SpaceX Climbed Nearly 20% in Its First Day of Trading. Here's Where the Stock Price Will Be in 3 Months, According to History.
The stock opened above its $135 IPO price and closed above $160, giving SpaceX a $2.1 trillion market value, the company said.
- On Friday, SpaceX advanced more than 19% on its first day of trading, reaching a market value of $2.1 trillion after closing at more than $160.
- Despite skepticism regarding the company's eye-watering valuation, investors fueled the record-breaking debut as SpaceX focuses on three businesses: rocket launches, satellite-based connectivity, and artificial intelligence.
- "The stock's strong opening reflects genuine market enthusiasm," said Alexander Lis, CIO of SDV, with the debut aligning with the 21.6% average gain of historical IPOs.
- Mike Alves, a fund manager at VIDA Vision Fund, warned that "valuation appears stretched relative to near-term profitability," citing the company's annual loss of $4.9 billion last year.
- Elon Musk aims to send 100,000 satellites into space for communications, signaling a "significant growth phase" while long-term backers Ark Invest and Baron Capital maintain their support.
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On June 12, SpaceX held its first stock exchange, which enabled its founder and CEO, Ilon Mask, to become the world's first dollar trillionaire, but he is not the only one who has won the largest IPO in history. Among other beneficiaries are executives and former employees, venture investors, university foundations, and even one of the direct competitors of SpaceX. The Wall Street Journal and Business Insider have compiled illustrative lists of …
SpaceX's turned in a dominant stock market debut. But traders are torn about the future.
Spencer Platt/Getty ImagesSpaceX climbed 19% in its stock-trading debut.Demand was strong, particularly from retail investors.After talking to a handful of institutional and retail traders, BI found a divided investor base.As I was watching SpaceX's IPO debut, I couldn't help but get some flashbacks to a young LeBron James.When LeBron entered the NBA at age 18, he was already anointed as the next big thing. This was the player who was going to c…
SpaceX Soars Nearly 20% In First Day Of Trading
(New York, New York) – SpaceX turned its public-market debut into the kind of first-day surge that keeps Wall Street talking. Shares jumped nearly 20% after the company completed what WABC described as the largest IPO in history, giving Elon Musk’s rocket and satellite business an even bigger spotlight than it already had. The move reflects intense demand from investors who want exposure to reusable rockets, Starlink internet service and the bro…
SpaceX Climbed Nearly 20% in Its First Day of Trading. Here's Where the Stock Price Will Be in 3 Months, According to History.
Key PointsSpaceX rose $75 billion last week in the world’s biggest-ever IPO.The company is heading for “a significant growth phase,” chief Elon Musk says.These 10 stocks could mint the next wave of millionaires › SpaceX (NASDAQ: SPCX) advanced more than 19% on Friday, its first day of trading -- and reached a market value of $2.1 trillion. This immediately puts it in the league of the world's biggest tech companies, such as Apple and Microsoft, …
Van Eck, SpaceX and lessons from history
Don’t be too quick to read investor excess into the SpaceX US$75 billion initial public offering, according to investment manager VanEck. It suggests that rather than excess, it may reflect a much older pattern when markets “repeatedly struggle to price companies building the future before the future becomes obvious”. Van Eck chief executive and managing director, Arian Neiron says financial markets have always struggled to price the companies t…
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