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Stock Market Today, June 12: SpaceX Mega IPO Soars, Testing Tech Stocks at Midday
The Motley Fool·
SpaceX's $75 billion IPO surged nearly 20% on its Nasdaq debut, reaching $161.33 per share and elevating risk appetite. However, the mega-IPO pressured major tech stocks as investors rotated away from AI infrastructure names. The S&P 500 rose 0.12% while the Nasdaq dropped 0.36% amid volatile trading. Oil prices fell below $85/barrel on Iran peace deal hopes, and improving consumer sentiment supported the market.
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