Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
SpaceX shares began trading on Nasdaq, surging about 11% immediately, pushing the company's valuation past $2 trillion and making Elon Musk the world's first trillionaire. Robinhood experienced record traffic, though some users faced latency and intermittent issues.
Robinhood reported ‘record-breaking’ traffic on its trading platform Friday following SpaceX's historic public market debut. The company posted on X that ‘some customers experienced latency and intermittent issues’ with trading, but the platform recovered quickly.
SpaceX shares started trading on the Nasdaq stock exchange at around 11:47 a.m. ET. The stock immediately traded up around 11%, pushing the company's valuation past $2 trillion — and making Elon Musk the world's first trillionaire.
According to Nasdaq, about 263 million shares changed hands in just one hour, representing approximately $42 billion worth of SpaceX stock. SpaceX made only about 4% of its shares available in the IPO, which could lead to wild price swings as it begins life as a public company.
