The shares of SpaceX, Elon Musk's aerospace company, are once again gaining ground on the stock market with a rise of more than 3%, after three consecutive days in the red. This turnaround confirms the high volatility that has marked the company's early days in the markets.
The price of the shares stood at around $160, which implies an advance of 3.50% compared to the $154.60 with which it closed the previous session.
With this rebound, the accumulated gain of the shares already reaches 18%, although in previous days it had even soared above 60%, after debuting on the stock market at $135 in what has been the largest initial public offering (IPO) ever made.
At its peak, SpaceX even managed to overtake Microsoft and Amazon in market capitalization. Currently, it remains in sixth position, behind these two tech giants, as well as Alphabet—Google's parent company—Apple, and Nvidia.
In its market debut, SpaceX managed to raise nearly $85.7 billion (€73.855 billion), the highest figure recorded in an IPO, after the underwriters fully exercised the over-allotment option ('greenshoe'), as the company itself reported.
Elon Musk, founder and CEO, has expressed confidence in the firm's financial future, stating that by 2030 SpaceX could approach a turnover of one trillion dollars. "I think SpaceX could reach revenues of approximately one trillion dollars in 2030," Musk maintained.
After SpaceX's leap to the stock market, the businessman became the first person on the planet to exceed a net worth of one trillion dollars.