SpaceX surges after blockbuster IPO debut

Space Exploration Technologies

Mon 19:57

Updates
** Shares of SpaceX SPCX.O rise 16.4% to $187.41, building on strong momentum following IPO debut on Friday
** The stock jumped 19% on Friday, propelling the rockets-to-AI firm to a valuation of more than $2 trillion, making it the sixth-most valuable U.S. company

    ** SPCX says underwriters had exercised the 
    "greenshoe"
     option to purchase additional shares, increasing the total proceeds from its initial public offering to $85.7 billion from $75 billion that it raised last week
  
** CEO Elon Musk says in an X post that co could generate $1 trillion in annual revenue by 2030, compared with $18.7 billion reported last year
** Stock set for fast-track inclusion in the Nasdaq 100, with additional FTSE Russell and MSCI index additions later in June
** More than $940 million worth of SPCX shares exchange hands by 05:41 a.m. ET, already topping Nvidia, Microsoft and Tesla combined

 (Reporting by Rashika Singh in Bengaluru and Akash Sriram in New York)
 ((Rashika.Singh@thomsonreuters.com;))