12:03 PM EDT, 06/12/2026 (MT Newswires) -- Shares of Elon Musk's SpaceX (SPCX) rallied 19% on Friday as the rocket and satellite company debuted on the Nasdaq in what is poised to be the world's biggest initial public offering.

Space Exploration Technologies ( SPCX ), widely known as SpaceX, opened trading at $150, after pricing the IPO at $135. The offering is expected to close on Monday, according to a company statement released Thursday.

It plans to raise a record $75 billion, targeting a $1.75 trillion valuation, Wedbush Securities said in a note on Friday. That would place SpaceX among the 10 most valuable public companies in the US, even more valuable than Musk-led Tesla (TSLA).

SpaceX granted the underwriters a 30-day option to buy up to an additional 83.3 million class A shares at the IPO price.

Musk's SpaceX position is worth about $866 billion, according to a Reuters report.

If the stock trades at $138 per share, Musk officially becomes a trillionaire, Wedbush's Dan Ives said.

Price: 168.00, Change: +33.00, Percent Change: +24.44