SpaceX rises 19% on first day of trading, market cap exceeds $2 trillion, becoming the sixth-largest company in the U.S.

Odaily reported that SpaceX surged on its first day of trading on the Nasdaq on Friday, with its market capitalization exceeding $2 trillion. The listing went more smoothly than many observers had anticipated. The stock began trading late Friday morning and fluctuated between 15% and 30% above its Thursday pricing for most of the session, with relatively modest volatility. It closed at approximately $161, up 19%, propelling the company to become the sixth-largest in the United States. The final settlement price is yet to be determined. Trading volume exceeded 500 million shares, with a turnover of approximately $80 billion. With major listing plans from Anthropic and OpenAI on the horizon, market observers had feared that a flood of new stocks, following a prolonged period of relative IPO drought, could weigh on market performance. However, sentiment was high among investors by the end of the day, ranging from large institutions to Elon Musk's retail fan base. "SpaceX has not only broken records in terms of fundraising scale for its listing, but has also left other major companies far behind. When the initial valuation was already close to $2 trillion, adding that much market capitalization in an instant is impressive," said Dan Coatsworth, head of markets at AJ Bell. (Jinshi)