SpaceX surges 19% on Nasdaq debut, market cap exceeds $2 trillion, becoming the sixth-largest company in the US

Odaily Planet Daily News SpaceX surged on its Nasdaq debut on Friday, with its market capitalization surpassing $2 trillion. The listing proceeded more smoothly than many observers had anticipated. The stock began trading late Friday morning and fluctuated between 15% and 30% above Thursday's pricing for most of the session, without significant volatility. It closed at approximately $161, up 19%, elevating 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 transaction value of approximately $80 billion. With major listing plans from Anthropic and OpenAI on the horizon, market observers had feared that a surge of new stocks, following a relatively prolonged drought in IPOs, could weigh on market performance. However, investors—from large institutions to Elon Musk's retail fan base—ended the day in high spirits. "SpaceX hasn't just broken records in terms of IPO fundraising size; it has also left other major companies far behind. When the initial valuation is already close to $2 trillion, adding so much market cap in an instant is impressive," said Dan Coatsworth, Head of Market at AJ Bell. (Jinshi)