SpaceX stock gains 19% in first full day of trading after record debut
The rocket company added more than $100 billion in market value as underwriters exercised a greenshoe option and retail demand stayed strong, brokers said.
- On Monday, SpaceX shares rose 6%, adding nearly $10 per share and more than $100 billion to market capitalization as underwriters exercised a greenshoe option, raising total proceeds above $85 billion.
- The stock's surge followed SpaceX's record IPO debut on Friday, which raised $75 billion and closed with shares climbing nearly 20% from the $135 offer price to $160.95, pushing market capitalization to $2.1 trillion.
- UK-Based investment firm Bell reported receiving more than five times as many share requests than any other IPO in the past decade, driven by SpaceX's unusual allocation of a greater proportion of shares to retail investors.
- "Demand for the IPO offer went through the roof," Dan Coatsworth, Bell's head of markets, wrote, noting the offering minted scores of new millionaires among staff and established CEO Elon Musk as the world's first trillionaire.
- SpaceX, which trades under ticker SPCX, faces divided investor sentiment; Business Insider's Joe Ciolli noted on Monday that market opinion remains polarized regarding the company's long-term performance prospects.
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The driving force behind SpaceX's stock surged 19% for two consecutive days after listing: investor sentiment, a "stock in short supply," and expectations for space AI. Is this a short-term overheating or structural growth? The stock price of SpaceX, a space and AI company that listed on the stock market amidst spectacular attention, showed a sharp upward trend for two consecutive days following its listing. On the 15th, on the New York Stock Ex…
SpaceX extends record-breaking debut
SpaceX shares rose 6% in early trading Monday, extending an already record-breaking stock market debut, suggesting that investor appetite for marquee tech names is still strong despite concerns of a bubble. The space giant is yet to turn a profit, but its revenues have grown exponentially and its Starlink arm dominates the space broadband market, while it is expanding into AI infrastructure as demand increases. One investor warned this month tha…
SpaceX continued to rise in value on Monday during the second trading session on the New York stock exchanges. Elon Musk's aerospace, AI, and satellite company had already gained over 19 percent on Friday during the largest corporate IPO ever. The stock rose 4.9 percent to $168.82.
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- 56% of the sources lean Right
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