SpaceX shares soared on Friday, propelling the rocket company’s valuation above $2 trillion, as trading commenced on the Nasdaq after a record-setting initial public offering.

The Elon Musk-led space company’s stock jumped more than 19% to $160.95 a share, putting its market value at roughly $2.1 trillion. At its session high, the stock traded at $176.52.

“This was a successful launch, no doubt about it,” said Jay Woods, chief market strategist at Freedom Capital Markets. “The public demand is there, so that’s a good thing. But now we’ll wait to see if it can hold that open price, or was it an euphoric retail crowd…