Instant Reaction: SpaceX Jumps in First Trades Following Record $75 Billion IPO
6/12/202616 min
Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuable public companies in the world.
The stock climbed as high as $176.52, or 31% above its offering price, less than two hours after the shares started trading shortly before noon in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.
For instant reaction and analysis, Bloomberg's Kailey Leinz speaks with:
- Yahaira Anand, Bloomberg Television Reporter
- Craig Trudell, Bloomberg News Managing Editor of Global Business Coverage
- Ed Ludlow, Bloomberg Tech co-host
See omnystudio.com/listener for privacy information.
Clips
Transcript preview
First 90 secondsCraig Trudell· Guest0:00
[upbeat music] The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand, but by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slashed repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM.
Speaker 20:29
When you own your own business, you own every decision. Now own the card that rewards you for it. Chase Sapphire Reserve for Business is a pay-in-full card that elevates your travel experience and offers premium benefits that will take your business to the next level. Sapphire Reserve for Business offers 8X points on all purchases through Chase Travel, 3X points on social media and search engine advertising, airport lounge access, and more. Chase Sapphire Reserve for Business. It's the card that gives back all you put in. Learn more at chase.com/reservebusiness. Chase for Business. Make more of what's yours. Accounts subject to credit approval. Restrictions and limitations apply. Cards are issued by JP Morgan Chase Bank NA. Member FDIC.
Speaker 31:13
As industries evolve faster than ever, companies need an environment that accelerates strategic growth, and Michigan delivers on that promise. From emerging startups to global enterprises, Michigan offers what executives value most: a resilient, innovative ecosystem, diverse communities that attract