What Happened
Elon Musk-Led Company Surges 19% On First Trading Day
SpaceX’s blockbuster stock market debut helped boost investor sentiment on Friday, easing concerns that recent volatility had weakened appetite for riskier assets. Shares of the Elon Musk-led company surged 19% in their first day of trading, giving SpaceX a market capitalization of roughly $2.1 trillion. Retail investors played a major role in the strong debut, purchasing about $118 million of SpaceX stock on Friday, as reported by Investing.com.