SpaceX has a strong first day on Nasdaq

SpaceX made a very strong start on Nasdaq. Its shares rose 19% on the first day, opening at 150 dollars and closing at 160.95 dollars. That pushed the company’s market value to 2.1 trillion dollars, which made it the sixth most valuable company in the United States. Trading was very heavy, with more than 510 million shares changing hands and 84 billion dollars in total value. Around 4,000 current or former SpaceX workers became millionaires through the shares they owned. The company is known for space transport and satellite internet. Although it is not yet profitable, it reported annual revenue of 18.7 billion dollars. Some analysts see major opportunity, while others warn that the high valuation and limited share supply could lead to sharp price swings.