SpaceX shares climb over 6% to become largest IPO ever
SpaceX shares soared more than 6% in premarket trading Monday, climbing to nearly $170 and pushing the company's value past $2 trillion, making it the largest IPO ever.
The stock is up by over 19% from its IPO price, but some analysts are raising eyebrows since SpaceX posted a big loss last year and ramped up spending this year.
Over 4,400 SpaceX employees likely millionaires
Thanks to the IPO, more than 4,400 current and former SpaceX employees are likely to become millionaires.
While Elon Musk said that the rocket maker could reach $1 trillion in revenue by 2030, Goldman Sachs predicted the rocket maker's revenue would go beyond $470 billion in 2030, while JP Morgan reported it would reach almost $330 billion.
Despite becoming America's sixth-largest company by market cap, experts say SpaceX still needs to turn its bold promises into real profits.