We have lift-off.
SpaceX opening price is at $150. That is down from the earlier indicative prices between $170 to $175 but still above the $135 IPO price.
Recall that Cerebras IPO opened well above its IPo price and rose to a high of $386.34 on the first day of trading. It’s shares are now at $211.24 after trading to a low of $196.73. The IPO price was $185. So the market might be a little more cautious especially given the float of $75B for SpaceX.
The price is trading higher at $159 as traders who did not get in, have their chance of history – win or lose.
Note that SpaceX will be part of the major indices including the Nasdaq 100 over the coming few weeks. That has implications for the indices and also the various ETFs which track the markets.
Elon Musk becomes the first trillionaire in the human race.
This article was written by Greg Michalowski at investinglive.com.
