SpaceX stock (SPCX) jumped nearly 8% in early trading, showing strong buying interest after its market debut. In just two days, shares have risen over 25%, a fast rise for a newly listed company.
The company raised $85.7 billion in its IPO, with experts citing strong demand and calling it a 'momentum stock.' However, market watchers warn of potential volatility.
Wedbush analyst Dan Ives said the IPO is a major turning point for the tech industry, and may lead to more money flowing into tech companies.
Retail and big investors drove the rally, with retail investors reportedly selling other stocks to buy SpaceX shares. Institutional investors and family offices also played a major role.
