Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts

Robinhood said it saw “record” traffic on its trading platform on Friday in the hours after SpaceX’s historic debut on the public markets.

The company participated in Share on X “Some customers experienced latency issues and intermittent issues” with trading, but the platform quickly recovered.

SpaceX shares began trading on Nasdaq at approximately 11:47 a.m. ET. Those shares immediately began trading nearly 11% higher, pushing the company’s value past $2 trillion — and making Elon Musk the world’s first trillionaire. In just one hour, about 263 million shares were traded. According to to Nasdaq, representing about $42 billion worth of SpaceX variable stock.

SpaceX made only about 4% of its shares available for trading in its IPO, leaving it in a position to experience extreme fluctuations in its stock price when it begins life as a public company.