$SPCX jumps 19% in Nasdaq debut; market cap tops $2.1T

$SPCX turned its first Nasdaq session into a $2T-plus market-cap event. CNBC reported that SpaceX closed at $160.95, more than 19% above its $135 IPO price, and reached $176.52 at the session high. The closing price put the Elon Musk-led rocket and satellite company at roughly $2.1T of equity value.

The trading volume was the first number that mattered after price. More than 500M shares changed hands in the debut session, a level CNBC said dwarfed other IPOs this year. SpaceX opened at $150, about 11% above the offer price, before buyers pushed the stock higher during the day.

Metric | Figure | Market read
IPO price | $135 | Final primary pricing
Opening trade | $150 | About 11% above IPO price
Close | $160.95 | More than 19% first-day gain
Session high | $176.52 | Above early opening price
Market value | About $2.1T | Among the largest U.S. public companies

The move also pulled money away from listed space proxies. Redwire fell more than 11%, Rocket Lab lost more than 10%, and the Procure Space ETF dropped 7% as investors rotated toward the newly listed pure-play. Goldman Sachs, lead-left bookrunner on the transaction, rose more than 2% in the same session.

The next test is whether institutional demand holds after the first full trading week. SpaceX's public valuation now embeds both the launch business and Starlink growth expectations, while CNBC noted concerns around valuation and possible growth obstacles for Starlink. The market will watch first-week turnover, index eligibility, and any post-IPO filing updates for float and insider-selling constraints.