SpaceX Soars 19.2% in Trading Debut, Hits $2.1 Trillion Market Cap

SpaceX traded 522 million shares in its initial Friday trading session, gaining 19.2% and pushing its market capitalization to $2.105 trillion. The volume made it one of the most heavily traded debuts on record. Based on the closing market cap and the gain, the opening market cap was roughly $1.77 trillion.

The company, led by Elon Musk, now ranks among the largest U.S. companies by market value. The 522 million shares traded represent a significant portion of the company's outstanding shares, though the exact float is not disclosed.

SpaceX's next scheduled public disclosure is its first quarterly earnings report as a public company, due within 45 days of the quarter's end.