The bell has rung. SpaceX, Elon Musk’s space company, has made its debut on the American stock exchange. And it looks like it will break all records. We follow it together with our money expert Chris Sugira. Follow everything live here in this blog.
liveblog
HLN money expert Chris Sugira: “SpaceX went live at $150: lower than previously estimated price, but not a disaster”
Our HLN money expert Chris Sugira suspects that SpaceX shares will end in the green at the end of the trading day.
“SpaceX went live at $150, 11 percent higher than the offering price of $135,” he analyzes. “That is lower than the previously estimated price, but not a disaster. This was a large IPO, in which the accompanying banks had to match supply and demand as best as possible to arrive at a price. In the end it was $150. That is not necessarily a bad sign. At the moment it looks like the share will also end in green at the end of the trading day.”
The price has now risen by more than 23 percent
The price of SpaceX’s shares is now more than 23 percent higher the initial price of $135 per share.
Investors in SpaceX mainly invest money in the Musk’s predictions for the futurewhich wants to place data centers in space and aspires to missions to Mars. They also maintain the success of a car manufacturer Tesla in mind, which achieved ambitious growth targets that many analysts initially thought impossible.
Musk maintains tight control over the companySpaceX emphasized in the risk section of its registration with the stock exchange watchdog SEC. The CEO retains more than 80 percent of the voting rights through special shares and thus determines the course and composition of the board almost single-handedly. That is immediately regarded as one big risk for the company, as he also devotes time to other companies such as Tesla and Neuralink.
Elon Musk the world’s first trillionaire
Elon Musk has become the world’s first trillionaire after the IPO of his space company SpaceX. This was reported by the Bloomberg news agency.
His net worth is now estimated $1,050 billion. This makes him three times richer than the second richest person in the world: Google founder Larry Page.
SpaceX is up more than 11 percent in the largest stock market debut in New York ever: company immediately worth $ 1.96 trillion
The SpaceX share has been initially quoted on the stock exchange at $150. That’s 11 percent above the introductory price of $135.
This makes Elon Musk’s company immediate Worth 1.96 trillion or $1,960 billion, good for the largest stock market debut in New York ever.
The currently loss-making company is thus assigned a value equal to approximately 95 times its annual turnover
Estimates of SpaceX’s share price have now fallen from $175 to $151
We still have to wait two hours to the opening for SpaceX’s share price. But estimates have since declined from $175 for a share an hour ago to $151reports the news agency ‘Reuters’.
That is in any case still considerably higher than the launch price of $135 per share.
Elon Musk can become the world’s first trillionaire: this is how you can imagine that amount
Thanks to the stock market debut of his rocket company SpaceX, Elon Musk could become the world’s first trillionaire. But how can you imagine such an amount?
– 96 million miles of dollar bills: if you laid a trail of dollar bills, you would mbefore we can go back and forth to the moon more than 200 times, or even go further than the sun, which is 150 million kilometers from Earth.
– 122 dollars (or 105 euros) for every person on earth.
– Almost one and a half times it gross domestic product (GDP) of Belgiumwhich amounts to approximately 776.73 billion dollars (720 billion euros). Only 21 countries in the world have a GDP of more than a trillion dollars. The US tops the list more than $32.38 trillion.
– 2.5 million homes in the US.
– 920 billion liters of gasoline (at current US prices). For comparison: all Americans together consumed last year 518.6 billion liters of gasoline (and prices were much lower then).
Stock markets in New York continue to rise
The stock markets in New York are rising further today after strong price gains the day before. The hope for a speedy end to the war in the Middle East and a rapid reopening of the Strait of Hormuz continued to make investors optimistic. Furthermore, attention was mainly focused on the IPO of SpaceX.
The Dow JonesShortly after the market opened, the index was 0.5 percent higher at 51,107 points. The wide one S&P 500index climbed 0.1 percent to 7,404 points and is a technology indicator Nasdaq fell 0.1 percent to 25,788 points.
Yesterday, American stock markets rose to 2.5 percent after President Donald Trump called off the planned American attacks on Iran. Trump also said that a peace deal could be signed as soon as this weekend.
Oil prices fell further. Brent crude, the benchmark for Middle Eastern oil, fell 2.4 percent to $88.26 per barrel. American oil cost 2.6 percent less at $85.46 per barrel.
Space companies Rocket Lab, Intuitive Machines and Planet Labs dropped to 10 percent by the IPO of competitor SpaceX.
“SpaceX looks to be worth more than $2 trillion”
SpaceX looks set to be worth more than $2 trillion (USD 2 trillion) upon its stock market debut on Nasdaq, reports news agency ‘Reuters’ in a new update.
The shares would therefore open at $175, versus introductory price of $135. There is still no official first race.
“Demand for SpaceX shares almost five times higher than supply”
Demand for SpaceX shares exceeded supply by nearly five times. This was learned by the Bloomberg news agency.
The demand from institutional and private investors, according to the news agency’s sources, exceeded $350 billionwhile 75 billion dollars worth of shares were issued during the IPO: SpaceX sold 555.6 million shares at $135 each, the largest IPO ever.
That gives the company a valuation of about $1,800 billion.
We are still waiting for the share price
For now we have to wait for the SpaceX share price. That may take a while. With the IPO of other companies such as Meta – the parent company of Instagram, WhatsApp and Facebook – and online trading platform Alibaba took hours.
The expectation is that the share will open significantly higher than the issue price, possibly around 30 percent. That would immediately make Elon Musk, already the richest man in the world, the first trillionaire – with a fortune of more than 1,000 billion dollars.
According to the Reuters news agency, the share may open on $174versus the launch price of $135 per share.
The bell has rung: SpaceX is making an entrance on the American stock exchange
SpaceX has made its entrance on the American stock exchange. This happened with the bell ringing Nasdaq Market Site at Times Square in New York.
Elon Musk watched via video link from his company headquarters Starbase, Texas. “SpaceX wants to take you to the moon, to Mars, and eventually even further,” he said. “I am convinced that with our incredible team we will succeed in doing so.”
The share is listed on the Nasdaq technology exchange at the stock exchange name ‘SPCX’.
Elon Musk’s mother arrived for SpaceX’s IPO
Maye Musk has arrived for the IPO of SpaceX, her son Elon’s company, in New York.
SpaceX launches rocket in run-up to IPO
The American space company SpaceX has launched its Falcon 9 rocket less than an hour before its stock market debut in New York.
The rocket, currently the most frequently used in the world, took off at 8:37 a.m. local time from the Cape Canaveral base in the US state of Florida. With the launch 29 satellites from Starlinkalso built by SpaceX, was launched into space and added to an internet network that now has more than 10,000 satellites.
The Falcon 9 model has already more than 600 flights on the countera record. Its development marked a major change, because the rocket’s lower stage lands again after launch and is reusable.
Chris: “Although there are exceptions, research shows that investing in IPOs is generally not a good idea. In the three years after the IPO, IPO companies tend to underperform the broader market. Possible explanations include misjudgment of risks, bad luck, and hype or exaggerated optimism. That is not surprising, because a private company only goes public when it sees the ideal opportunity to get the highest possible valuation. As a small investor, you actually come to the table when the coffee is served, but the appetizer, main meal and dessert are for the founders and venture capitalists.”
These companies also demonstrate this:
Chris: “But of course there are also exceptions, such as Reddit, which has risen 276% since its IPO. But a swallow does not make a spring.”
SpaceX makes its stock market debut at 3:30 p.m
SpaceX’s IPO on Wall Street will be the largest ever. The rocket, satellite and artificial intelligence company is aiming for a valuation of 1.6 trillion euros and wants to raise $75 billion with the IPO.
SpaceX notes technology stock exchange Nasdaq and has like ticker SPCX. A stock ticker is a unique abbreviation used to identify a stock.
What questions do you have about the IPO? Ask our money expert Chris Sugira here
Elon Musk richer than his three competitors combined
Elon Musk’s net worth is approaching the symbolic limit of $1 trillion. That is an unprecedented level of wealth, mainly due to the value of the shares of his space company SpaceX, which is going public today. This was reported by the French news agency AFP. It is more than the GDP of Belgiumwhich amounts to almost 650 billion euros, or more than 750 billion dollars.
In the rankings of the richest people in the world, the SpaceX founder now outweighs his three closest competitors combined: Google co-founders Larry Page and Sergey Brin, followed by Jeff Bezos, the founder of Amazon, according to Forbes and Bloomberg.
