SpaceX opened its first day of Nasdaq trading at $150 and closed at $160.95 — a 19% gain on the $135 IPO price. Intraday it briefly touched 30% above IPO, giving SpaceX a $2.25 trillion market cap and making Elon Musk the world's first trillionaire. Volume: 360 million shares by 2pm ET. The Deal Room walks through what day-one told us about the market's conviction, the retail-30% bet, and what $2T public company mechanics mean for operators.