SpaceX 49% IPO Rally Pushes Amazon to Sixth-Largest Global Stock
AMZN•SpaceX stock climbed 4.5% in New York premarket, marking four straight days of gains and a 49% rally since its record IPO. The surge pushed SpaceX’s market value past Amazon’s, relegating the e-commerce giant to the sixth-largest publicly traded company worldwide.
1. SpaceX Four-Day Gain and Rally
Shares of Space Exploration Technologies rose 4.5% in New York premarket trading, extending gains to four consecutive sessions and lifting its rally to approximately 49% since the record-breaking IPO. The stock’s limited float—only about 4.2% of total shares tradable on day one—has amplified price volatility as retail demand remains strong.
2. Market Cap Overtake and Amazon Impact
The sustained buying pressure propelled SpaceX’s valuation past Amazon’s, elevating it to the fifth-largest global stock and bumping Amazon to sixth place with a roughly $150 billion gap to fourth-ranked Microsoft. This reshuffling highlights shifting investor preferences toward high-profile technology and space ventures.
3. Potential Index Inclusion Effects
Nasdaq’s rule change for faster index entry could force passive funds tracking the Nasdaq 100 to buy SpaceX shares, potentially driving further gains. In contrast, S&P Dow Jones Indices has kept its standard inclusion timeline intact, while upcoming lockup expirations may introduce downside risk as insiders prepare to sell shares.
