SpaceX Hits $2.75 Trillion Market Cap, Surpassing Amazon in Historic Surge

Elon Musk’s SpaceX has staged a monumental ascent in the global markets, catapulting its valuation past Amazon and briefly overtaking Microsoft. Following a frenzied period of trading, the company’s market capitalization has soared to $2.75 trillion, driven by massive investor appetite and high-volume options activity.

The Meteoric Rise: From IPO to $2.75 Trillion

SpaceX’s stock performance has been nothing short of extraordinary since its recent listing. After an initial public offering (IPO) price of $135, shares have surged by more than 66% in just three days. On Tuesday, shares climbed 10% to close at $211.63, having touched intraday highs of $225.64.

This rapid appreciation has added nearly $1 trillion to the company’s market value compared to its record IPO valuation set just last week. During the peak of the rally, SpaceX’s market cap eclipsed Amazon’s $2.65 trillion and briefly challenged Microsoft’s $2.92 trillion valuation. The company now sits on the cusp of the "mega-cap" tier, trailing only Apple, Alphabet, and Nvidia, which all maintain valuations above $4 trillion.

Options Trading and Market Volatility

A primary catalyst for this sudden price explosion was the launch of SpaceX option contracts on Tuesday. Options allow traders to bet on price movements, and the interest was unprecedented; more than 500,000 SpaceX options contracts changed hands within the first hour of trading.

According to Brent Kochuba, founder of SpotGamma, the heavy bullishness in options likely forced market makers to buy the underlying shares to hedge their risks. This "gamma squeeze" effect, combined with massive trading volumes, led to a turnover of $44 billion—the highest among large US-listed firms, significantly outperforming chipmaker Micron Technology’s $28 billion.

Elon Musk’s Wealth and the Scale of Growth

The SpaceX rally has fundamentally reshaped the landscape of global wealth. Following a 20% jump in share price on Monday, Elon Musk’s personal net worth surged by $164.8 billion in a single day, bringing his total wealth to $1.3 trillion.

Untuk memberi gambaran, keuntungan satu hari Musk melampaui seluruh kekayaan bersih seumur hidup kebanyakan individu dan hampir setara dengan total kekayaan investor legendaris Warren Buffett ($146 miliar). Pertumbuhan ini telah menciptakan kesenjangan kekayaan yang masif antara Musk dan miliarder lainnya di dunia, menempatkannya di kelas tersendiri.

Fundamental Keuangan dan Sentimen Investor

Meskipun kapitalisasi pasarnya melonjak, profil keuangan SpaceX tetap berbeda dari raksasa teknologi tradisional yang menguntungkan. Perusahaan melaporkan penjualan sebesar $18,67 miliar tahun lalu, namun mencatat kerugian bersih sebesar $4,94 miliar. Namun, para investor tampaknya telah memperhitungkan potensi jangka panjang dari imperium SpaceX yang terdiversifikasi, yang mencakup komunikasi satelit, peluncuran roket, dan integrasi AI.

Minat investor ritel juga menjadi faktor yang signifikan. Investor ritel, yang dialokasikan 20% dari IPO, telah melakukan pembelian bersih melebihi $200 juta selama dua sesi terakhir, menandakan kepercayaan akar rumput yang kuat terhadap masa depan perusahaan.

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