SpaceX surged again on Tuesday, briefly topping both Amazon and Microsoft as the rocket maker’s market value approached $3 trillion.
As of Tuesday’s close at $201.68, SpaceX was valued at roughly $2.64 trillion, putting it behind only Nvidia, Alphabet, Apple, Microsoft, and Amazon among US public companies, according to a Yahoo Finance analysis of AlphaSpace data.
That makes SpaceX one of the fastest new entrants ever into the top tier of the US market. Just days after its public debut, the company is already trading in the same market-cap neighborhood as the world’s largest technology companies.The move capped a stunning post-IPO run. From its $150 opening trade, SpaceX had gained about 50% at Tuesday’s high, adding nearly $1 trillion in market value. Measured from its $135 IPO price, the company had rallied 67% by 10:03 a.m. ET Tuesday.
The leaderboard move was not just symbolic. At the same moment SpaceX hit its high, Amazon was valued at nearly $2.65 trillion and Microsoft at nearly $2.93 trillion. SpaceX cleared Amazon comfortably and edged past Microsoft at the high, putting it briefly inside the top four.
The rally followed an already historic day on Monday.
Yahoo Finance
