01:20 PM EDT, 06/12/2026 (MT Newswires) -- (Updates with recent stock movement in first and second paragraph.)

Space Exploration Technologies ( SPCX ) , known as SpaceX, shares continued to climb on its first day of Nasdaq trading, rising more than 29% early afternoon Friday in what is poised to be the world's biggest initial public offering.

The stock opened at $150, after pricing the IPO at $135 a share. The offering is expected to close Monday, according to a statement released Thursday.

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

Wedbush Securities' Dan Ives had said in the note that if the stock trades at $138 per share, Musk officially becomes a trillionaire.

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.

Price: 175.12, Change: +40.12, Percent Change: +29.72