SpaceX Achieves Historic Market Valuation on Nasdaq Debut Despite Core Rocket Deficits

SpaceX Nasdaq IPO SPCX Debuts With Historic Two Trillion Dollar Valuation As Starlink Profits Offset Massive Rocket Manufacturing Losses

The historic debut of SpaceX on the Nasdaq stock exchange marks the 7th largest public corporation in the United States to list on a US stock exchange. Under the ticker symbol SPCX the aerospace juggernaut sold 555.6 million shares of its common stock at $135 per share a price point that raised an immediate $75 billion for the company. The monumental transaction sets the record for the largest IPO in global financial history, breaking the previous capital record set by the state run Saudi Aramco energy corporation. In early trading on Nasdaq the company's valuation briefly climbed to $152.66 per share, bringing the overall value of the corporation to nearly $2 trillion. The surge on the stock market brings founder Elon Musk on the precipice of becoming the first trillionaire on earth while the future value of both his SPCX holdings and the shares he holds in Tesla remains tied to the stock’s closing price. Musk retains 100 percent of the aerospace company's corporate control through 5.22 billion Class B shares equating to 82.4 percent of all total voting rights while the underwriters retained an option on an additional 83.33 million shares another $11.2 billion in potential company revenue.