SpaceX shares jumped about 11% in U.S. premarket, which would extend the stock’s
gain to more than 50% over its first three trading days after earlier
two-session gains exceeding 40%. As of Monday’s close the company’s market value
topped $2.5 tln, approaching Amazon’s roughly $2.7 tln. SpaceX exercised its IPO
greenshoe, allowing underwriters to sell an extra 83.3 mln shares and lifting
gross proceeds to $86.2 bln; after the $0.5 bln underwriting fee disclosed in
the prospectus, net proceeds are $85.7 bln. Vanda Research said retail buying in
the first two trading days matched retail purchases across the entire U.S.
market last week, easing some concerns about demand for such a large IPO.
