Robinhood reported unprecedented traffic on its trading platform on Friday following SpaceX’s remarkable entry into public markets.
In a statement on X, the company noted that “some users faced delays and sporadic issues” while trading, although the system quickly stabilized.
Shares of SpaceX began trading on the Nasdaq at approximately 11:47 a.m. ET, immediately surging about 11%. This surge pushed the company’s valuation above $2 trillion, making Elon Musk the first trillionaire in history. Within just an hour, around 263 million shares changed hands, amounting to approximately $42 billion in SpaceX stock traded, as reported by Nasdaq.
In its IPO, SpaceX offered only about 4% of its total shares for trading, setting the stage for significant fluctuations in its stock price as it embarks on its journey as a public entity.
