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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