You love to see it.
Okay, okay.
After going public on Wall Street, SpaceX is only worth $2.2 trillion AS OF TIME OF PUBLISHING.
Canada's national GDP in 2024 was $2.24 trillion. In 2026, it is ESTIMATED to be $2.5 trillion, but the country just entered an unofficial recession.
This means that as of 3:00 p.m. EST of Friday, the entire nation of Canada is BARELY edging out ONE of Elon Musk's companies.
If you are wondering why SpaceX is so valuable, you 1) haven't been paying attention and 2) don't understand economics. π
Speaking of not understanding economics, I should mention my pal Bernie Sanders.
Bernie, who has never made anyone a millionaire except himself, has made no comment about all the SpaceX workers that became millionaires overnight.
According to TechCrunch, as of midday Friday, SpaceX was considered one of the top six most valuable companies in the U.S., meaning one of the top six most valuable companies in the world.
SpaceX lifted off on its first day as a public company, immediately jumping to $150 a share after it began trading on the Nasdaq, around 11% higher than the $135 figure at which it officially priced its IPO on Thursday. The stock price reached as high as $176 in midday trading, pushing the company's market capitalization to nearly $2.3 trillion...
I can see Canada sweating now.
Robinhood said it has seen 'record-breaking' traffic on its trading platform Friday in the hours after SpaceX's historic public markets debut.
The debut is also one of the largest windfalls in the history of venture capital. The returns to Founders Fund, which invested $600 million in the company and owns a 3% stake, are estimated at more than $50 billion at the IPO price of $135, according to Bloomberg. Meanwhile, Andreessen Horowitz's stake is worth more than $10 billion, and Sequoia's is valued at over $20 billion.
Debuting at $150 made founder Elon Musk the world's first trillionaire.
If SpaceX delivers on the promise of space travel, orbital data centers, and next-gen communications satellites, it's going to be well worth the investment.
We'll have to see what happens after the initial public offering. Most of the time, stock prices dip as the hype fades, then eventually climb back up to a realistic market price.
From there: To the moon? π
Watch our latest video π
