The newly public aerospace giant is on track to become the world's fifth-most valuable company after another sharp jump in its share price.
SpaceX's blockbuster stock market debut is showing no signs of slowing down. Shares surged more than 8% in premarket trading on Tuesday, pushing the company closer to overtaking Amazon in market value just days after its historic IPO.
The rally has already lifted the stock more than 54% above its IPO price, making SpaceX one of the most closely watched names on Wall Street.
KEY DETAILS
SpaceX shares were last trading at $208.90, up 8.5% before the opening bell. If gains hold, the company’s market capitalization will reach approximately $2.75 trillion, ahead of Amazon’s $2.66 trillion valuation.
The stock has climbed more than 54% from its IPO price of $135. Last week’s offering raised $75 billion, and that figure has now increased to $85.7 billion after underwriters exercised their additional share purchase option.
Despite investor enthusiasm, SpaceX reported $18.67 billion in revenue last year and a net loss of $4.94 billion following its merger with xAI.
The company also announced plans to acquire software firm Anysphere for $60 billion, which trimmed some of Tuesday’s early gains.
MARKET REACTION
Trading activity has been extraordinary. More than $3 billion worth of SpaceX shares changed hands before the market opened, exceeding the combined trading volumes of Nvidia, Microsoft, Tesla, and Apple during the same period.
Meanwhile, several major technology stocks, including Nvidia and Alphabet, traded slightly lower.
WHY IT MATTERS
Options trading in SpaceX is expected to begin Tuesday, likely bringing even more volatility. Investors are also anticipating the company’s fast-track inclusion in the Nasdaq 100, along with upcoming additions to FTSE Russell and MSCI indexes later this month.
Those index changes could trigger fresh demand from ETFs and passive investment funds, adding further momentum to the stock.
The next major test for SpaceX will be whether investor excitement can continue to outweigh concerns about its valuation and profitability. Traders will also be watching options activity, index inclusions, and the impact of the Anysphere acquisition on sentiment.
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