WACO, Texas (KWTX) - SpaceX began publicly trading today with its stock price reaching as high as $176. 30 per share, about $40 more than its initial public offering price.

When the market closed, SpaceX stock sat at $160. 95 a share.

The company's debut on the public market has drawn major attention from investors, but financial advisors say the hype can come with risks."Essentially, whenever a stock first comes public, it's what's called as a primary offering. So, this is money that's going directly to the company. So, any money that's being raised today, that's going directly to SpaceX. From there, it's then on the public market. So, it's traded between people like you and me. And essentially, this is how companies raise money," said Reid Higgins, investment advisor at Discipline Investors.