SpaceX shares finish debut session at $150, 11% above IPO price

SpaceX shares ended their first trading day at $150, about 11% above the $135 offering price, according to CoinDesk. The report said demand was strong from the opening print, helped by a tightly constrained public float and expectations that index inclusion could add incremental buying. Only about 4% of SpaceX's shares are currently available for trading in public markets, with most of the remainder held by early investors and employees. A small float can intensify price swings around an IPO by limiting available supply. CoinDesk also noted that SpaceX had previously pushed for changes to certain index inclusion rules, accelerating the timeline for newly listed companies to be added to benchmarks such as the Nasdaq 100. The expected inclusion window is said to be shortened from potentially months to just a few days, which could bring forward demand from passive funds that track those indices and anticipate higher institutional buying. The combination of a limited float and expected index-related inflows can create a sharper supply-demand imbalance for new listings, the report said, helping explain why SpaceX's debut price traded above its offer level. The listing also lifted paper gains for early backers. Bloomberg estimates Founders Fund invested $600 million for roughly a 3% stake; at the $135 IPO price, that holding is valued at more than $50 billion. Andreessen Horowitz's stake is estimated at more than $10 billion, while Sequoia Capital's stake is put at above $20 billion. The report added that Elon Musk's net worth rose further on the IPO valuation, potentially putting him on track to become the world's first trillionaire. The New York Times previously reported that about 4,400 current and former SpaceX employees would become millionaires, including around 400 whose net worths would reach the hundreds of millions of dollars.