Space Exploration Technologies Corp. (SpaceX) officially launched its initial public offering (IPO) on June 12, marking what is widely considered the largest IPO in history. According to a Securities and Exchange Commission filing cited by USA Today, the company raised approximately $75 billion by offering 555.6 million shares at an initial price of $135 per share.
Trading on the Nasdaq Global Select Market under the ticker symbol SPCX, the stock saw immediate volatility. Opening at $150, the price climbed to over $168 before noon, representing a surge of more than 22% on its first day of trading. This performance outperformed several major Nasdaq movers, including Intel and Seagate Technology.
The move has triggered significant speculation regarding the company’s relationship with Tesla. As Tesla reportedly holds 19 million shares of SpaceX, the market valuation of the aerospace firm has direct implications for Tesla’s financial position. Investors are closely watching whether the market volatility of SPCX will influence Tesla’s stock, which has faced a 13% decline over the last six months.
While Elon Musk remains at the helm of both entities, market analysts are observing the potential for long-term collaboration. Despite the excitement, financial experts suggest that the long-term impact on Tesla’s share price remains uncertain as the market digests the influx of new aerospace-focused capital.