The euphoria around the public listing of Elon Musk’s SpaceX has piqued the interest of Indian investors in US stocks, with stockbroking platforms offering international stocks reporting a 20-25% surge in trading volumes.
More than a fifth of the trading volumes since SpaceX’s listing on Friday were for buying shares of Musk’s rocket company, platforms such as Vested Finance and IndMoney said.
“About 20% of trading volumes yesterday was just SpaceX, even though it listed mid-way into the US markets,” Nikhil Behl, chief executive officer, stocks, at IndMoney, said on Sunday. The participation was broad-based across both new and existing investors, he added.
Also Read: Elon Musk recalls SpaceX’s journey from mere 10% chance of success to the world’s biggest IPO
SpaceX raised $75 billion in its initial public offering (IPO) at a valuation of over $1.7 trillion. The company shares opened at $150 per share and at its peak achieved a valuation of more than $2 trillion.
