BUZZ-Musk's SpaceX set for hotly anticipated debut after record $75 billion IPO
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Virgin Galactic SPCE | 0.00 |
** Elon Musk's SpaceX SPCX.O set to begin trading on Nasdaq later on Friday after raising $75 billion in the world's biggest IPO ever
** SPCX sold 555.56 million shares at $135 apiece, valuing the rocket and satellite maker at $1.77 trillion
** SPCX set to make the first U.S. trillion-dollar debut and become the seventh-largest U.S. company by market capitalization
** At $75 billion, deal's proceeds were more than double those of Saudi Aramco's record-setting 2019 IPO
** SPCX estimates its market opportunity spans $28.5 trillion, a figure it called the largest in human history
** U.S. space stocks have also gotten a boost ahead of SpaceX's hotly anticipated debut on hopes of higher valuations
** Some are also buying Virgin Galactic SPCE.N on bets that the stock will get lift from investors confusing it with SPCX
** Elsewhere, Oppenheimer on Thursday initiated SpaceX coverage with a bullish rating and $190 PT
** Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup and J.P. Morgan were among joint book-running managers for SpaceX's offering
