SpaceX Is Now America’s 6th Most Valuable Public Company

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  In moments of seismic change, through crisis, and transformation, it is our real-world experience that delivers.

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  FTI Consulting, experts with impact.

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  SpaceX is now America's sixth most valuable company, and that makes Elon Musk officially the world's first trillionaire.

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  Plus, it's a mystery vexing analyst.

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  How has China been able to stop importing millions of barrels of oil since the start of the Iran War?

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  China was able to slash oil imports without visible disruptions to its economy.

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  Cars are still running on the street.

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  People are still traveling.

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  Toilet paper is still there.

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  You know, how is this possible?

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  It's Friday, June 12th.

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  I'm Alex O'Sullivan for The Wall Street Journal.

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  This is the PM edition of What's News, the top headlines and business stories that move the world today.

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  Today, SpaceX made its long-awaited stock market debut.

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  Shares open trading at $150 around midday, 11% above the IPO price of $135.

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  And the rocket company stock ended the day up 19% at $160.95.

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  Its market cap is $2.1 trillion, making it America's sixth most valuable company just below Amazon.

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  CEO Elon Musk's other company, Tesla, is now number eight.

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  The IPO gripped Wall Street and transfixed investors worldwide,

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  and it was as near a picture-perfect debut as most bankers could imagine,

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