The previous record was set over six years ago. But SpaceX, whose stock begins trading on Friday, is on track to raise tens of billions of dollars more.
Two Times tech reporters and their editor talk about assessing the sky-high valuation of the rocket and satellite maker, the potential economic impact of its public debut and the role of the world’s richest man in it all.
Oil prices retreated and stocks rallied after President Trump called off plans for another day of strikes on Iran, saying that a peace deal could be within reach.
Elon Musk’s rocket company said it would sell more than 555 million shares at $135 each in its blockbuster initial public offering, which is set to begin trading on Friday.
Elon Musk’s rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation for its blockbuster initial public offering.
SpaceX has set an initial public offering price of $135 a share, which would value it at $1.77 trillion. Some investors are skeptical that the valuation is justified.
Investors who bought the automaker’s shares in its initial public offering became rich. As a result, many have a deep faith in Elon Musk, the chief executive of Tesla and SpaceX.
Oil prices jumped after the United States and Iran exchanged fire for a second day, heightening fears that the two countries could slide back into open conflict.
Wall Street is giving its richest clients velvet rope access to this week’s public listing of SpaceX, reflecting the growing importance of the wealth management business.
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