SpaceX shares surge 19% on historic IPO; TD Securities eyes further upside
SpaceX closed its record-breaking initial public offering with shares up 19%, marking the largest IPO of all time. TD Securities analysts told CNBC they expect even larger moves ahead, citing the company's dominant position in reusable rocket technology and growing government contracts.
The rally reflects investor appetite for aerospace/defense infrastructure and AI-adjacent supply chain plays, a rare sign of institutional confidence in long-duration capex bets.