SpaceX IPO listing: The SpaceX’s blockbuster stock market debut has generated significant excitement across global financial markets, with billionaire banker Uday Kotak calling the listing a “true test for capitalism.”

Commenting on the blockbuster debut, Kotak said the company’s valuation challenges traditional financial benchmarks and reflects a substantial wager on future growth and innovation.

In a post on X, he added that only time will tell whether the development marks a groundbreaking shift or the emergence of a speculative bubble.

“SpaceX IPO, listing, and beyond, is a true test for capitalism. The valuation does not fit any traditional matrix and is a huge bet on the future course of planet earth. Only time will tell whether we, the human race, have arrived into the fairy tale world we grew up in as children, or are in a mega bubble,” he said in a social media post on X.

Kotak further praised it by saying that kudos to the man who came as an immigrant, and to the country that has allowed such boundless creativity to flourish despite all the risks it embeds.

SpaceX IPO listing details

SpaceX made a stellar debut on the Nasdaq, with its shares soaring 19% on the first day of trading to close at $161 apiece. The stock opened at $150, significantly above its IPO price of $135, propelling the company’s market valuation to approximately $2.1 trillion and cementing its position among the world’s most valuable listed companies.

The blockbuster listing also marked another landmark achievement for Elon Musk. Following SpaceX’s debut trading session, Musk became the first person in history to amass a net worth exceeding $1 trillion, driven by the combined value of his stakes in SpaceX and Tesla.

According to regulatory filings, Musk held around 849 million Class A shares and 5.57 billion Class B shares in SpaceX prior to the IPO. At the stock’s opening price, his holding in the company was valued at close to $750 billion. When added to his estimated $280 billion stake in Tesla, his total wealth surpassed the $1 trillion threshold, making him the world’s first trillionaire.

Speaking on the day of the listing, Musk reaffirmed SpaceX’s long-term vision of democratizing space travel, emphasizing that access to space should not be limited to a small group of astronauts.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.