SPCX Surges to $172.31 on Record Demand, Tops $2.2T Valuation

SpaceX shares opened on Nasdaq under ticker SPCX after a record $75 billion IPO priced at $135. Indicated opens near $171 were delayed by an oversized cross that drew more than $350 billion in total demand, including $250 billion from institutions, trimming retail allocations. Once trading commenced, SPCX climbed above $172.31, pushing market capitalization past $2.2 trillion and briefly exceeding Tesla’s valuation. The S-1 also disclosed SpaceX’s 18,712 BTC treasury, ranking it eighth among public corporate holders. Broader markets rose modestly as capital rotated into the new listing.