SpaceX is poised to leapfrog Amazon and hit a $2.7 trillion valuation in 3 days of trading
SpaceX is poised to leapfrog Amazon and hit a $2.7 trillion valuation in 3 days of trading
Will Martin Tue, June 16, 2026 at 11:43 AM UTC
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A picture of SpaceX's share price in its first 3 days of trading.NurPhoto/NurPhoto via Getty Images -
SpaceX's stock price continues to rocket on its third day of trading.
The company's shares are set to open up 6% on Tuesday, pushing gains since its IPO to more than 50%.
If it holds onto its premarket gains, it would become the world's fifth-largest company, passing Amazon.
Day 3 of trading. Day 3 of mega gains for SpaceX.
Shares in Elon Musk's rocket company look set to increase by around 6% at the market open on Tuesday, adding to the near 20% gains seen in both its first and second days of trading.
SpaceX, which trades under the ticker SPCX, went public in the largest IPO in history on Friday, raising an initial $75 billion at a valuation of around $1.8 trillion. On Monday, it revealed that the banks underwriting the IPO had exercised a so-called greenshoe option, adding another $10 billion to the total raised.
At the close on Monday, SpaceX's market capitalization had climbed to just over $2.5 trillion, making it the 6th-most-valuable company in the world, ahead of corporate titans like Broadcom, Meta, and Berkshire Hathaway. Its valuation was almost $1 trillion higher than that of Musk's other listed company, Tesla.
With an indicated Tuesday opening price of around $204 — a 6.2% gain from its $192.50 closing price on Monday — SpaceX's market capitalization stands to jump to just shy of $2.7 trillion, rocketing it past Amazon and making it the world's 5th-most valuablecompany. Earlier in premarket trade, the stock had been set to open as much as 11% higher.
SpaceX's monumental rally in its first 3 days of trading has split opinions in the market. As Business Insider's Joe Ciolli noted in his "First Trade" newsletter on Monday, some point to Musk's leadership and SpaceX's technological advantage as reasons the rally is justified, while others argue that it is overblown.
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One analyst dubbed it "the biggest meme stock in town."
"It is a probably speculative bubble (though in theory, it is not a bubble until it bursts)," Ipek Ozkardeskaya, senior analyst at Swissquote, wrote in a Tuesday morning email.
"People are buying SpaceX in the expectation that others will buy too and push the price higher — that's speculation. The risk is that one day, someone will say, 'Hey, the Emperor is naked,' and on that day, the company's fundamentals won't be there to stop the sell-off," she added.
Also on Tuesday, SpaceX announced that it would buy AI coding startup Cursor for $60 billion.
This week, Business Insider profiled Michael Truell, the 25-year-old Cursor cofounder and CEO, who told employees the potential merger with SpaceX was "a big risk, or a big bet, that we're making."
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Source: “AOL Money”
