NEW YORK (AP) — Shares of SpaceX began trading Friday after a delayed opening caused by overwhelming investor demand for one of the most anticipated stock market debuts in recent memory.

The aerospace and satellite company priced its initial public offering at $135 per share, but heavy buying interest delayed the start of trading as exchange officials worked to match orders.

When trading finally commenced under the ticker SPCX, shares opened at approximately $150, giving the company an immediate gain of more than 11% above its IPO price.

The strong debut reflects intense investor enthusiasm for the Elon Musk-led company, which has become a dominant force in commercial space launches and satellite communications through its Starlink network.

Market analysts noted that while the opening price was well above the IPO level, it was below some of the more aggressive pre-market indications, highlighting the challenges of balancing supply and demand during such a closely watched offering.

Investors will now be watching closely to see whether SpaceX can sustain its early gains as trading volume remains elevated throughout its first day on the public markets.