Overview
- SpaceX completed its public offering on Friday, raising about $75 billion and briefly climbing to a market value above $2 trillion after initial trading pushed the share price well above the IPO level.
- After a multi‑day rally, shares have fallen and swung sharply, including single‑day drops of around 5% and a correction as large as roughly 20% from the intraday peak as the market normalizes.
- Bloomberg and market analysts point to a very low free float — roughly 4–4.25% of shares initially available to trade — as a key cause of the early price amplification and the subsequent volatility.
- In Argentina the Nasdaq listing spawned a BYMA Cedear for SpaceX (ticker SPCX) at a 50:1 ratio that became the most‑traded Cedear, with BYMA reporting about US$24 million in MEP‑adjusted volume and heavy retail activity on Ualá, Bitso and Lemon.
- Investors are weighing recent corporate moves and governance questions after SpaceX formalized an all‑stock acquisition of Cursor AI/Anysphere for about $60 billion and advisers prepared large debt placements, factors that will shape longer‑term valuation and investor confidence.