Robinhood reported “record-breaking” activity on its trading platform Friday following SpaceX’s highly anticipated debut on the public markets.
In a post on X, the company said some customers experienced temporary latency and intermittent trading issues due to the surge in demand. Robinhood noted that the platform recovered quickly and services were restored shortly afterwards.
SpaceX shares began trading on the Nasdaq at approximately 11:47 a.m. ET. The stock immediately climbed about 11%, pushing the company’s valuation above $2 trillion and helping make Elon Musk the world’s first trillionaire.
Investor demand was evident from the opening bell. According to Nasdaq data, roughly 263 million shares changed hands in the first hour of trading, representing about $42 billion in stock transactions.
Only around 4% of SpaceX’s total shares were made available through the IPO. The limited public float could contribute to significant price volatility as investors continue to evaluate the newly listed aerospace and technology company.
