Huo Xing Cai Jing reports that on June 14, SpaceX’s landmark listing on Nasdaq proceeded smoothly, easing concerns on Wall Street and setting a new template for dealers and exchanges handling the massive IPOs of OpenAI and Anthropic later this year. SpaceX’s record-breaking listing on Friday was nearly three times larger than the largest IPO previously conducted by U.S. exchanges, yet the trading systems of underwriters, exchanges, market makers, and other institutions successfully handled millions of customer orders. In contrast to Facebook’s disastrous debut in 2012, when technical issues left investors and brokers stranded for hours, Morgan Stanley, acting as the “stabilizing agent,” played a pivotal role in managing the opening process. Citadel Securities stated that SpaceX’s IPO generated the highest-ever retail order activity in an IPO auction. Nasdaq CEO Friedman said that collaboration among all parties was excellent, preparations were thorough, and the trading event was “flawless.”
SpaceX Successfully Completes Nasdaq Listing, Establishes New IPO Model for OpenAI and Anthropic
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Summary
SpaceX’s Nasdaq listing on June 14 marked a major exchange listing event, easing Wall Street concerns and providing a blueprint for upcoming IPOs such as OpenAI and Anthropic. The offering, nearly triple the size of the previous U.S. IPO record, saw trading systems process millions of orders. Morgan Stanley served as the stabilizing agent, while Citadel Securities reported the highest retail order activity in an IPO auction. Nasdaq CEO Friedman called the execution flawless. New token listings may now follow a clearer path.
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