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SpaceX CEO Gwynne Shotwell and SpaceX executives ring the Opening Bell at the Nasdaq on June 12th, 2026. Adam Jeffery | CNBC
SpaceX shares soared on Friday as trading commenced on the Nasdaq , propelling the rocket company's valuation above $2 trillion, after a record-setting initial public offering. The Elon Musk-led space company's stock climbed 19.3% higher to $161.11 a share, putting its market value at roughly $2.1 trillion. At its session high, the stock traded at $176.52. "This was a successful launch, no doubt about it," said Jay Woods, chief market strategist at Freedom Capital Markets. "The public demand is there, so that's a good thing. But now we'll wait to see if it can hold that open price, or was it an euphoric retail crowd driving it."
Stock Chart Icon Stock chart icon SpaceX, 1-day
More than 500 million shares exchanged hands in SpaceX's debut session, dwarfing all other IPOs seen this year. SpaceX opened at $150 per share, marking a roughly 11% gain over its $135 IPO price. But that number was lower than the $175 level initially shown in indications of interest to trading desks. "You have to give it a full trading day, which will be next week," Woods said. "The initial thoughts on the trading desks were that it could get up to $200." Friday's debut officially crowns Musk as the first trillionaire on record. The IPO is expected to mint thousands of new millionaires and multiple new billionaires. Goldman Sachs climbed more than 2% in Friday's session, with traders applauding its role as lead-left bookrunner on the SpaceX transaction. Goldman was the second-biggest gainer in the Invesco KBW Bank ETF (KWBW) . But shares of space industry stocks tumbled as investors shifted focus to SpaceX. Redwire and Rocket Lab slid more than 11% and 10%, respectively, in Friday's session. The Procure Space ETF (UFO) dropped 7%.
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