SpaceX shares had not begun trading despite the scheduled IPO launch because Nasdaq was still conducting the opening auction process. During the auction, buy and sell orders are collected and matched to determine a balanced opening price before the first trade occurs. Initial indications valued the stock at about $175 per share, roughly 30% above its $135 IPO price. Delays are common for high-profile listings as exchanges finalize price discovery. Market participants expect SpaceX shares to begin trading once supply and demand reach equilibrium.
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