SpaceX has overtaken Amazon in market capitalisation following a sharp rise in its stock price after the company's initial public offering. Shares in the space and telecommunications firm traded at around $213 in early Tuesday premarket activity, up 19.60 percent from Monday's close, pushing its valuation near $2.8 trillion—above Amazon's $2.66 trillion. The rally comes days after SpaceX priced its IPO at $135 per share, entering public markets with an $1.8 trillion valuation. Over $1.16 billion worth of SpaceX shares changed hands in a single premarket session, exceeding combined trading volumes of Apple, Microsoft, and Nvidia. The company's market cap had risen from $1.77 trillion on Friday, with a 19 percent jump on Monday alone.
Investor enthusiasm was further demonstrated by the exercise of the greenshoe option for 83 million additional shares by lead underwriters. The surge reflects strong retail demand and confidence in SpaceX's business ventures, including its reusable rocket systems, the Starlink satellite internet network, and recent moves into artificial intelligence. Elon Musk, founder of SpaceX, now holds one of the world's most valuable stakes in a single company as a result of the rally. The stock's rise of over 50 percent from its IPO price has repositioned SpaceX among the top global technology firms.
Elon Musk's SpaceX has leapfrogged Amazon in market value just days after going public, despite Amazon's decade-long dominance in e-commerce and cloud computing. The rapid ascent is based on projected ambitions rather than proven revenue in new sectors like AI and space infrastructure. For investors, this shift reflects a bet on future innovation over current market performance. Yet the volatility underscores how sentiment and speculation can quickly redefine corporate value on global markets.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
