SpaceX Valuation Approaches $2.53 Trillion, Challenges Amazon’s Ranking
AMZN•SpaceX shares rose 1.2% premarket, retaining a $2.53 trillion market value just below Amazon’s ranking after closing 4.95% lower at $191.82. Post-IPO shares surged roughly 50% above the $135 issue price in four sessions, briefly topping $3 trillion and challenging Amazon’s market cap.
1. Premarket Trading Recovery
SpaceX shares rose 1.2% in premarket trading, recovering from a 4.95% drop to $191.82 in the prior session. This rebound restored much of the ground lost after the stock’s first decline since its June 12 debut.
2. Record-Setting IPO Rally
The company priced its IPO at $135 per share, raising $75 billion and boosting proceeds to $85.7 billion through its greenshoe option. In four trading days, shares have climbed roughly 50% above the issue price, underscoring robust investor demand.
3. Market Cap Rivalry with Amazon
With a market capitalization near $2.53 trillion, SpaceX stands just shy of Amazon’s valuation and briefly exceeded $3 trillion intraday at $229.85. The move positioned SpaceX momentarily above Amazon in global market cap rankings.
