SpaceX Surges Past Microsoft and Amazon in Historic Post-IPO Rally

Elon Musk’s SpaceX has delivered a blockbuster debut on the public markets, with its valuation skyrocketing past industry titans Amazon and Microsoft. Driven by intense investor enthusiasm and high demand, the rocket-to-AI powerhouse is rapidly reshaping the landscape of the Nasdaq Composite.

A Trillion-Dollar Leap: Surpassing Tech Giants

In a move that has stunned Wall Street, SpaceX shares climbed 14.3% on Tuesday, reaching $220 per share. This surge represents a massive 62% increase from its initial IPO price of $135. At its peak during Tuesday's session, the company reached a market capitalization of approximately $2.85 trillion.

This valuation allowed SpaceX to leapfrog Amazon, which stands at $2.64 trillion, and briefly overtake Microsoft’s $2.92 trillion valuation. The sheer scale of the trading activity was unprecedented; as of mid-morning ET, over $23.1 billion worth of SpaceX shares changed hands—a trading volume that surpassed the combined totals of Nvidia, Microsoft, Tesla, and Apple.

Speculation vs. Fundamentals: The Valuation Debate

While the market momentum is undeniable, analysts are divided on the company's underlying financial health. SpaceX reported sales of $18.67 billion last year, but reported a net loss of $4.94 billion following its merger with the AI startup xAI. This stands in stark contrast to the heavy profitability typically seen in top-tier Big Tech firms.

Market experts like Ipek Ozkardeskaya from Swissquote Bank have warned that the current valuation "makes absolutely no sense" based on current earnings, suggesting that the rally is fueled by speculative momentum. However, further catalysts are in play, including SpaceX's recent announcement to acquire software firm Anysphere for $60 billion, signaling an aggressive expansion into AI-driven software.

Index Inclusion and Upcoming Volatility

The next phase of SpaceX’s market journey will be defined by institutional inflows. The company is slated for fast-track inclusion in the Nasdaq 100, with FTSE Russell and MSCI also set to add the stock to their indexes on June 26 and June 29, respectively. According to the Zephirin Group, the combination of passive fund flows and a limited share float could drive further upside.

Інвестори також готуються до підвищеної волатильності у зв'язку з початком торгів опціонами на "SPCX", ціни виконання яких варіюються від 25 до 380 доларів. Аналітики попереджають, що через відносно невелику кількість акцій у вільному обігу та величезний попит, акції можуть демонструвати хаотичні коливання ціни в перші дні після виходу на публічний ринок.

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