SpaceX stock opened on Thursday and rallied 19% on its first day, closing near $161 per share under the ticker SPCX. The surge reflected pent-up demand for Elon Musk’s space venture, which has long been one of the most anticipated public offerings. The strong debut pushed the company’s valuation well above its IPO price, though exact market capitalization figures were not disclosed in available reports.
The IPO’s scale briefly disrupted retail brokerages. Some Robinhood users encountered technical issues while attempting to buy shares, underscoring the fervor among individual investors. The offering also drew political attention: Republican Rep. Lisa McClain’s husband purchased up to $250,000 in Musk’s artificial-intelligence venture, xAI, before it was folded into SpaceX ahead of the listing, according to a CNBC report.
The broader market closed a volatile week with gains, and the SpaceX IPO was a key driver of sentiment. Other recent IPOs, such as WaterBridge, also hit new highs. Investors now watch whether SpaceX can sustain its momentum, with comparisons to Tesla’s post-IPO trajectory looming. Some analysts caution that first-day pops often fade, and the stock’s long-term performance will hinge on SpaceX’s ability to execute on its Starship and Starlink roadmaps.