SpaceX set to surpass Amazon's market cap as post-IPO rally continues

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 ​capitalisation 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.