SpaceX Valuation Surges Past Amazon as Post-IPO Frenzy Ignites

Elon Musk’s SpaceX has officially entered the stratosphere of global tech giants, with its market valuation soaring past Amazon following a massive post-IPO rally. Driven by intense investor demand and the commencement of options trading, the rocket and AI powerhouse is reshaping the landscape of high-growth equities.

A Trillion-Dollar Leap in Market Capitalization

SpaceX shares witnessed a massive surge of over 14% on Tuesday, reaching a trading price of approximately $220. This jump represents a staggering 62% increase from its initial IPO price of $135. The rally pushed SpaceX’s market capitalization to roughly $2.85 trillion, allowing it to surpass Amazon’s $2.64 trillion valuation and briefly eclipse Microsoft’s $2.92 trillion mark.

The scale of liquidity seen in the market is unprecedented. By mid-morning on Tuesday, over $23.1 billion worth of SpaceX shares changed hands, a trading volume that exceeded the combined totals of Nvidia, Microsoft, Tesla, and Apple. Furthermore, the company bolstered its capital reserves as underwriters exercised the greenshoe option, raising total IPO proceeds from $75 billion to $85.7 billion.

Options Trading Sparks Speculative Momentum

The frenzy intensified on Tuesday with the launch of SpaceX options trading. The market responded with immediate aggression: approximately 115,000 options contracts were traded within just the first 10 minutes of the session. Notably, call options—bets that the stock price will rise—outnumbered put options by a ratio of 1.7-to-1.

This surge in activity placed SpaceX as the third most actively traded single-stock contract globally, trailing only Nvidia and Tesla. Analysts, including Brent Kochuba of SpotGamma, noted that heavy call demand in a low-liquidity environment could force dealers to buy the underlying stock, potentially creating a feedback loop that drives prices even higher.

Volatility Risks and Financial Realities

Despite the euphoria, seasoned analysts are urging caution. The company’s current valuation is being questioned by experts like Ipek Ozkardeskaya of Swissquote Bank, who suggests the price is driven more by speculative momentum than fundamental metrics.

Le profil financier de l'entreprise reflète une période de transition à enjeux élevés. SpaceX a déclaré un chiffre d'affaires de 18,67 milliards de dollars l'année dernière, mais a enregistré une perte nette de 4,94 milliards de dollars, un chiffre attribué à sa récente fusion avec la société d'IA xAI. De plus, SpaceX a signalé une expansion agressive par le biais d'un projet d'acquisition de la société de logiciels Anysphere pour 60 milliards de dollars.

Catalyseurs à venir : Inclusion dans les indices

En perspective, SpaceX est positionnée pour de nouveaux flux institutionnels. L'entreprise est pressentie pour une inclusion accélérée dans l'indice Nasdaq 100, parallèlement à des ajouts prévus aux indices FTSE Russell et MSCI plus tard ce mois-ci. Selon le Zephirin Group, la combinaison des flux indiciels passifs, du momentum et d'un flottant limité pourrait entraîner une hausse significative, même si le marché est aux prises avec la valorisation élevée de la société.

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