SpaceX Is Skyrocketing on Its IPO Day -- Is the Stock a Buy Right Now?
SpaceX's IPO has been a hit. Should investors pounce on the stock before it rockets higher?
SpaceX Is Skyrocketing on Its IPO Day -- Is the Stock a Buy Right Now?
Overview
SpaceX (NASDAQ: spcx) stock has had its hotly anticipated initial public offering (IPO), and the company's share price is seeing strong bullish momentum out of the gate. The stock was up 23% from the fixed IPO price set by the company as of 3:10 p.m. ET on Friday. At the same point in the daily session, the S&P 500 was up 0.6%, and the Nasdaq Composite was up 0.8%. The stock had been up as much as 30.8% earlier in today's trading.
SpaceX's fixed IPO pricing valued the company at roughly $1.77 trillion, and its subsequent stock gains have sent its market capitalization far above that level. With today's gains, the space tech leader now has a market capitalization of approximately $2.17 trillion.
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Originally published at www.fool.com.
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