SpaceX shares jumped on their market debut, lifting the company’s valuation above $2 trillion and pushing Elon Musk’s fortune higher, according to reports.
Original market reporting from the FXMARE News Desk, produced under the FXMARE editorial policy. It reports facts only and is not investment advice.
SpaceX shares rose sharply when trading opened on the Nasdaq, with reports putting the stock’s first-day gain in the high 20% range.
Multiple outlets said the move lifted the private space company’s market value above $2 trillion after a record IPO.
CNBC reported that Elon Musk’s stake in SpaceX was valued at more than $766 billion, and said that when combined with his Tesla holdings, his net worth was about $1.05 trillion.
Reports also said the debut weighed on shares of rival space companies, which moved lower after SpaceX’s strong opening.
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