Space Exploration Technologies Corp. Class A Common StockSpaceX IPO successful with shares jumping 19% on first day, valuation reaching $2.1 trillion, creating thousands of millionaires.

SpaceX's long-awaited market debut finally arrived on June 12, with shares jumping nearly 19% on the first day and pushing the company's valuation to $2.1 trillion. An estimated 4,400 employees became millionaires overnight, including 27-year-old mariner Maryellyn Musselman, who converted 10% of her paycheck into SpaceX equity over two years and also received shares as compensation. Musselman declined to disclose the current value of her holdings but told The Wall Street Journal she plans to use the proceeds to start her own business. The IPO is expected to generate $500 million in fees, and while some analysts project a $5,000 investment could grow to $8,745 in five years, CFRA initiated coverage with a sell rating and a 12-month price target of $115, citing an extremely ambitious growth strategy and elevated valuation expectations.
Space Exploration Technologies Corp. Class A Common StockSpaceX IPO successful with shares jumping 19% on first day, valuation reaching $2.1 trillion, creating thousands of millionaires.