SpaceX Jumps in First Trades Following Record $75 Billion IPO

Shares of SpaceX climbed in their first day of trading on Friday after Elon Musk’s company made history with a $75 billion IPO that instantly turned it into one of the biggest public companies in the world.

The stock sold for $150 in its opening trade on Nasdaq at 11:46 a.m. in New York, 11% above its $135 offering price, and climbed as high as $168.75. The jump in the stock turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.

“The initial bump is within the range of normality for a technology ...