Exciting times!
BTW folks, the 9:30am bell doesn't mean SpaceX starts trading right away. Big Nasdaq IPOs need time to find the right opening price first.
Here's what's happening behind the scenes:
โBuy and sell orders pile up
โNasdaq publishes an estimated opening price and shows the imbalance
โNo actual trades yet - just price discovery
Once the underwriter and Nasdaq agree the book looks ready, the IPO Cross fires โ that sets the first official price, and normal trading starts from there.
Recent big tech debuts have taken 2-3 hours after the bell to open. Given the size of this one, I'd be surprised if it trades before noon ET.-
The 9:30am ET opening bell does not mean SpaceX would instantly start trading.
For a major Nasdaq IPO, the exchange first has to figure out the right opening price.
*Orders come in
*Buyers say what they will pay
*Sellers say what they want
*Nasdaq shows the imbalance
*Nasdaq shows an estimated opening price
*But trades still are not happening yet
The underwriter and Nasdaq wait until the order book looks ready.
Then the IPO Cross happens, which sets the first official trading price.
Only after that does normal trading begin.
For recent major tech debuts, that first trade has often happened around 2-3 hours after the bell.
With this one being so large, I would be surprised if it starts trading before 12pm EST.
@PTrubey JerryRigEveryting isn't stupid, he's just ignorant.
And he really, really does not like Elon Musk at all, which clouds his brain and makes him say silly things and make terrible comparisons.
@higgsfield_ai So Fable 5 JUST comes out, and suddenly the Opus 4.8 outputs (from a few days ago) show boring Higgsfield video, when you've been showcasing Hollywood-level stuff using Opus 4.8?
This is crazy cherry picking. Not a good look, folks. Do better.
@hasantoxr It's getting there. Still has a way to go. Audio inconsistencies, 5-legged horses, emotionnal tones are off. Cut's and story are off.
That said, it has the potential to be something super cool, and I can appreciate the effort that went into it. It's not easy.
@pelositracker It's up because Nvidia's CEO said on stage that it's the next trillion-dollar company.
The giant run-up today has nothing to do with the politicians.
And if you look at other similar stocks in the AI space, you will see almost 100% of them have also run up as much or more.