SpaceX’s Stock Surges on 1st Full Day of Trading
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Shares of SpaceX (NASDAQ:SPCX) are up 16% in Monday afternoon trading, climbing to about $187 as buyers extend the post-IPO surge that began last Friday. The newly minted NASDAQ listing priced at $135 and opened at $150,
SpaceX is now valued at over $2 trillion after its stock rallied on the first day of trade.
Space stocks and funds were hammered in the wake of SpaceX's debut. Analysts are still bullish about their future potential.
After a sharp rise on Thursday, space sector stocks are once again broadly in the red. SpaceX shares are set to begin trading within hours. Rocket Lab shares fell 6% on Friday morning, erasing most of Thursday's gains.
SpaceX (NASDAQ: SPCX), the aerospace and AI company founded by Elon Musk, went public at $135 per share on June 12. It opened at $150 and now trades at $180, giving it a market cap of $2.1 trillion and making it the world's sixth-most-valuable company.
Rocket Lab gives investors another way to play the space race.
Shares of space and satellite stocks fell significantly Friday in the wake of SpaceX's (SPCX) massive initial public offering. We asked Seeking Alpha analysts Jack Bowman, Julia Ostian, and Daniel Jones if investors should buy the dip or stay on the sidelines.
KeyBanc believes Rocket Lab USA and Firefly Aerospace are set to benefit from compelling opportunities across the space sector.
