The company’s market debut followed a massive $75 billion share sale conducted a day earlier, which initially valued the firm at $1.77 trillion. Investor appetite remained aggressive throughout the session, driving shares up 3.1% to $165.99 during after-hours trading. This surge signals strong market confidence in Elon Musk’s space venture as it transitions into the public arena.

In related market movement, the entertainment sector saw a significant shift as the Justice Department cleared Paramount’s $81 billion acquisition of Warner Bros. Discovery. The regulatory green light removes a major obstacle for the consolidation of the two media giants. Following the announcement, Paramount shares climbed 3% to $10.79 in post-market activity.