On the third day of trading, SpaceX surpassed Amazon and Microsoft in market capitalization

Shares of Elon Musk’s aerospace and AI company, SpaceX, surged to $225.64 per share during trading on June 16, rising more than 60% from its IPO price. As a result, SpaceX’s market capitalization reached $2.94 trillion at that moment, according to CNBC, which notes that, based on this metric, SpaceX has surpassed Microsoft (valued at $2.93 trillion) and Amazon ($2.67 trillion) just three trading days after its listing.

According to the TV network's estimates, SpaceX is now among the top four most valuable U.S. companies on the market. Only Apple, Alphabet, and Nvidia rank higher.

Shortly thereafter, SpaceX’s stock slowed its pace of growth: at the time of publication, it was up just over 10% from the previous close, trading at $213 per share. According to Yahoo Finance, the company’s total market capitalization is estimated at $2.8 trillion.

Reuters notes that on June 16, options on SpaceX shares became available to market participants. In the first 10 minutes of the session, approximately 115,000 option contracts were traded on these securities, with call options outnumbering put options by a ratio of 1.7 to 1, according to data from Trade Alert, the agency reports.

Elon Musk took SpaceX public on June 12. The company’s IPO set a record in stock market history. On the first day of trading, SpaceX shares jumped 19%, and then on Monday, June 15, they rose another 19% amid optimistic forecasts from Musk himself (he stated that his space company could generate $1 trillion in revenue by 2030) and the overall positive sentiment in the markets sparked by the imminent signing of a peace agreement between the U.S. and Iran, MarketWatch notes.

This article was AI-translated and verified by a human editor