TradingKey – SpaceX (NASDAQ: SPCX) closed Day One at $161.11, a 19% increase from its $135 IPO price, following an intraday trade that saw prices swing as high as $176.52 and as low as $150. The result was exactly what was expected from an IPO that was oversubscribed by a factor of 2x and had a tight 4% float. Day One saw significant volume. Nasdaq President Adena Friedman and SpaceX President Gwynne Shotwell rang the opening bell at the Nasdaq MarketSite, surrounded by a large number of people.

Perpetual futures linked to SpaceX on crypto platforms also saw a price peak of $176, approximately 30% above the IPO price, before moving to around $172. The IPO sent Elon Musk’s total valuation for his companies including SpaceX, Tesla and…