SpaceX (NASDAQ: SPCX) closed Day One at $161.11, a 19% increase from its $135 IPO price, following an intraday high of $176.52 and low of $150. The IPO was oversubscribed by a factor of 2x and had a tight 4% float. Nasdaq President Adena Friedman and SpaceX President Gwyneth Shotwell rang the opening bell at the Nasdaq MarketSite. Perpetual futures linked to SpaceX on crypto platforms peaked at $176, approximately 30% above the IPO price, before moving to around $172. The IPO sent Elon Musk’s total valuation for his companies including SpaceX, Tesla and xAI over $450 billion. The closing price held near 20% higher than the IPO price, signaling significant buy support. The biggest near-term event is that MSCI is putting in place an early inclusion methodology; on June 13 (or T+1), SpaceX with its valuation of over $1.75 trillion will be one of the top 10 constituents in the MSCI World Index and MSCI.