Balgarianovinite.com
Elon Musk’s SpaceX went public Friday morning in the largest initial public offering in history, which is expected to make him the world’s first trillionaire.
Musk rang the NASDAQ opening bell in New York on Friday before addressing the history-making IPO.
“Hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever,” Musk said.
Fox Business correspondent Grady Trimble reported on the event from Chicago.
“Elon Musk went on to say the company’s goal is to take the fiction out of science fiction,” Trimble said. “You saw the executives there on the NASDAQ ringing the opening bell this morning. But we don’t know exactly when SpaceX, under the ticker symbol SPCX, will start trading. But we do know when it does, sometime today it will almost certainly be, as Musk just mentioned, the biggest IPO of all time.”
Trimble continued:
Shares will go live at a price of 135-bucks per share, valuing the company at about $1.77 trillion. From there anything can happen. Pre-IPO futures are indicating that the stock price could surge almost immediately. The IPO could make the company’s founder and CEO — that is Musk, of course — the world’s first trillionaire. It’ll also likely dwarf any other debut in history, including the current record-holder, Saudi ARAMCO, in 2019.
Even if you’re not planning to get in on trading today…SpaceX stock will soon be in Americans’ 401K’s and other retirement accounts in the forms of index funds. Thanks to recent rule changes SpaceX could appear on the NASDAQ 100 after 15 trading days and the Russell 1000 after just five trading days. SpaceX, of course, includes not only the reusable rocket business, but Starlink and the company’s A.I. Division. SpaceX lost around $5 billion last year but people are betting on the future.
“One more thing to look out for today…volatility,” Trimble added. “If there is a large swing in either buying or selling, that could trigger a brief pause in trading. So, it could be a wild ride today.”
Watch the clip above via Fox Business Network.
The post SpaceX Expected to Be Worth $1.77T as Elon Musk’s Company Goes Public in the Largest IPO in History first appeared on Mediaite.
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