SpaceX set to surpass Amazon's market cap as post-IPO rally continues
Elon Musk's SpaceX is experiencing a significant surge in its stock value. Shares rose over 10% in premarket trading on Tuesday. This rally puts SpaceX on track to surpass Amazon's market capitalization. It is poised to become the world's fifth-la...
By Reuters |
Shares of Elon Musk's SpaceX rose more than 10% in premarket trading on Tuesday, putting the company on course to overtake Amazon. com in market value to become the world's fifth‑largest company, as it extended a post-IPO rally.
The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalization of nearly $2.8 trillion if gains hold.
Amazon was last valued at $2.66 trillion.
More than $1.16 billion worth of SpaceX shares exchanged hands as of 04:14 a.m. ET, which was several times the trading volumes in Nvidia, Microsoft, Tesla and Apple combined.
The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalization of nearly $2.8 trillion if gains hold.
Amazon was last valued at $2.66 trillion.
More than $1.16 billion worth of SpaceX shares exchanged hands as of 04:14 a.m. ET, which was several times the trading volumes in Nvidia, Microsoft, Tesla and Apple combined.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
SpaceX set to surpass Amazon's market cap as post-IPO rally continuesADVERTISEMENT
