SpaceX opened trading Friday at $150 per share under the ticker SPCX following the largest IPO in history, with shares quickly climbing above $160 and pushing the company's market capitalization beyond $2 trillion.

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Financial research giant Morningstar has placed a fair value estimate of $63 per share on SpaceX, representing a 53 percent discount to the company's upcoming initial public offering price of $135 per share. Other analysts believe Elon Musk's rocket company will increase in value from its IPO price over the next year.

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