SpaceX shares surge 19% after IPO
SpaceX achieved a strong start on its first day of trading on the NASDAQ, with the stock closing at $161.11, roughly a 19% increase from the IPO price of $135 per share. Trading began at $150, and the stock reached a high of $176.52, boosting the company's market value to about $2.1 trillion, making it one of the largest technology companies globally. The company's founder, Elon Musk, and COO Gwyn Shotwell attended the opening ceremony. Musk confirmed that the company has been generating positive cash flows since around 2015 and plans to launch more than 100,000 communication satellites, in addition to establishing AI data centers in space.
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