SpaceX gains 11% in premarket trading as momentum builds
Fuelled by a post-IPO rally, index inclusions, and a $60 billion Anysphere acquisition, SpaceX's market value approaches $2.8 trillion.
- SpaceX shares rose more than 10% in premarket trading today, pushing the company's market capitalization toward nearly $2.8 trillion and positioning it to overtake Amazon's $2.66 trillion valuation.
- Underwriters exercised the "greenshoe" option yesterday, increasing total initial public offering proceeds to $85.7 billion from the $75 billion raised last week.
- SpaceX announced it will acquire Anysphere, the software firm behind the popular AI coding agent Cursor, for $60 billion, with the deal expected to close during the third quarter of 2026.
- More than $1.76 billion worth of shares exchanged hands early today as investors position ahead of the stock's inclusion in FTSE Russell and MSCI indexes on June 26 and June 29.
- Swissquote Bank senior market analyst Ipek Ozkardeskaya warned that "people are buying SpaceX in the expectation that others will buy too," citing speculative behavior driving the surge.
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Elon Musk's group is also announcing an agreement of $60 billion for the Cursor artificial intelligence coding application. SpaceX has surpassed Amazon and has become the fifth most valuable company in the world, in the context of a lightning increase after the record initial public offer. SpaceX actions have grown to...
A few days after SpaceX's IPO, the Company is valued at $2.75 trillion. However, only five percent of the shares are freely tradable.
Stock Market Today, June 16: SpaceX Overtakes Amazon as Valuation Tops $2.8 Trillion
At midday, the S&P 500 (SNPINDEX:^GSPC) had slipped 0.14% to 7,543.64, and the Nasdaq Composite (NASDAQINDEX:^IXIC) had fallen 0.46% to 26,560.20 amid profit‑taking in high‑growth tech. The Dow Jones Industrial Average (DJINDICES:^DJI) rose 0.89% to 52,132.01 as cyclicals extended Monday’s rally.Market moversSpaceX jumped more than 10% as its post‑IPO surge and artificial intelligence (AI) deal vaulted its valuation. The firm, which is proposing…
Elon Musk's space company SpaceX has already gone public with an unusually high rating. However, in the first days of trading, investor demand is driving prices even higher.
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