Short-seller Jim Chanos characterized the SpaceX offering as a "hopes and dreams IPO" due to its nearly $2 trillion valuation on $19 billion in revenue and negative free cash flow.

Elon Musk will retain approximately 80% of the voting rights in SpaceX post-IPO through a dual-class share structure.

Disruptions in the Strait of Hormuz have been ongoing for potentially a third month.