SpaceX shares registered a remarkable rise in their first public trading last Friday (12), culminating in raising the company’s value to more than US$2 trillion and solidifying Elon Musk’s position as the first person to reach the global trillionaire mark.
With the substantial appreciation of the company’s assets, CEO Elon Musk’s net worth surpassed the impressive figure of US$1 trillion, underlining the market’s confidence in his ambitious space and technology ventures, which depend on robust capital to transform fiction into reality.
During the session, SpaceX shares started the day trading at US$ 150, reached a peak of US$ 176.52 and ended the session at US$ 161.11. Even with a slight retraction in earnings near the closing, the performance resulted in an increase of 19.34% in relation to the value established for the IPO, which was US$135.
The success of the initial public offering (IPO) was widely praised by industry analysts, who highlighted the good performance, stability and record enthusiasm from both institutional and retail investors. With this result, SpaceX consolidated its position as the sixth largest publicly traded corporation in the United States.
“When we analyze the initial demand for the securities, I believe that this outcome was, in fact, the most likely”, declared Howard Chan, founder and CEO of Kurv Investment Management, when commenting on SpaceX’s robust entry into the market.
Kurv Investment Management, in turn, announced its plans to introduce an ETF that will include SpaceX in its portfolio, scheduled to launch in June.
“The market movement aligned perfectly with projections,” said David Fetherstonhaugh, executive vice president of investments at VistaShares, evaluating the behavior of the shares.
At the same time, the financial market as a whole showed a modest increase, with the S&P 500 registering an increase of 0.5%. The Nasdaq Composite index, heavily influenced by technology companies, ended the day with an appreciation of 0.31%.
