SpaceX (SPACEX) IPO Debut: Shares Rise 6% in Premarket Trading

AI Summary

SpaceX (SPACEX) shares increased approximately 6% in premarket trading, reaching around $170 after a significant initial public offering (IPO) last week. This IPO marked the largest in history, with shares closing at $161 on Friday, up 19% from the initial price of $135. The company's market capitalization has exceeded $2 trillion. Analysts from CFRA have rated the stock as a 'sell' with a target of $115, citing high valuation and ambitious growth strategies, while NewStreet Research has a price target of $165 for long-term investors.