SpaceX Is Now America’s 6th Most Valuable Public Company
6/12/202613 min
P.M. Edition for June 12. Shares of SpaceX closed up 19% on their first trading day, giving the company a market cap of more than $2 trillion and making Elon Musk the world’s first trillionaire. Plus, China has been importing a lot less oil since the start of the Iran conflict, helping keep a lid on global oil prices–without disrupting its economy. WSJ energy markets reporter Rebecca Feng discusses how China’s doing that, and what happens if the country reverses course. And Iran, the U.S. and mediators agree that a peace deal is close at hand. We hear from Journal Middle East correspondent Benoit Faucon about what points might still be up for debate. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
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First 90 secondsSpeaker 10:00
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Alex Ossola· Host0:29
[upbeat music] SpaceX is now America's sixth most valuable company, and that makes Elon Musk officially the world's first trillionaire. Plus, it's a mystery vexing analysts, how has China been able to stop importing millions of barrels of oil since the start of the Iran war?
Rebecca Feng0:48
China was able to slash oil imports without visible disruptions to its economy. Cars are still running on the street, people are still traveling, toilet paper's still there. You know, how is this possible?
Alex Ossola· Host1:00
It's Friday, June 12th. I'm Alex Osule for The Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that moved the world today. [upbeat music] [crowd cheering] Today, SpaceX made its long-awaited stock market debut. Shares opened trading at $150 around midday, 11% above the IPO price of $135.