SpaceX rises 19% on debut, market cap exceeds $2 trillion, becoming the sixth largest company in the U.S.

Odaily reported that SpaceX surged on its Nasdaq debut on Friday, with its market capitalization surpassing $2 trillion. The listing was smoother than many observers had anticipated. The stock began trading later in the Friday morning session, moving 15% to 30% above Thursday's pricing for most of the day, with relatively modest fluctuations. It closed at approximately $161, up 19%, propelling the company to become the sixth largest in the U.S. The final settlement price is yet to be determined. Trading volume exceeded 500 million shares, representing a turnover of around $80 billion. With major listing plans from Anthropic and OpenAI on the horizon, market observers had worried that a surge of new stocks, following a relatively prolonged IPO drought, could dampen market performance. However, sentiment was high among investors ranging from large institutions to Elon Musk's retail fan base as the day closed. "SpaceX hasn't just broken records in terms of the scale of its fundraising; it has left other major companies far behind. To add so much market value in an instant, when the starting valuation is already close to $2 trillion, is truly impressive," said Dan Coatsworth, Head of Markets at AJ Bell. (Jin Shi)