SpaceX’s (SPCX) stock opened at $150 Friday, an 11% jump from its IPO price and up nearly 30% in midday trade following its record-breaking IPO.

The rocket and satellite company priced its IPO Thursday night at $135 per share ahead of today’s debut on the Nasdaq Composite (^IXIC), trading under the ticker SPCX (SPCX).

“SpaceX going public is an important moment for the broader tech sector in our view as this AI Revolution and data takes this next step forward,” Wedbush analyst Dan Ives wrote in a note to investors Friday morning.

SpaceX stock jumped over 30% after opening, but pared some of those gains in midday trade.

Some on the Street believe the stock will be volatile for days to come.

“The stock is bound to be…