SpaceX IPO Trading Expected Within 60 Minutes, First Indications at $175
SpaceX’s IPO first indications came in at $175 per share, a 30% premium over the $135 IPO price. Trading is expected to begin within the next hour after Nasdaq completes its price-discovery auction.
Market participants are awaiting the start of trading in SpaceX shares after the IPO was quoted at 9:50 AM ET. The first indicative price was set at $175, implying a roughly 30% upside from the $135 IPO price.
Before the first trade occurs, Nasdaq must run a price-discovery auction where buy and sell orders are matched. During this process, the indicative opening price updates continuously until supply and demand are balanced. Only then does the opening auction execute.
Notable IPOs such as Google (2004) and Meta (2012) saw first trades delayed by over two hours. The market expects SpaceX shares to begin trading within the next 60 minutes.
Source: The Kobeissi Letter