SpaceX Races Past Amazon in Market Value as Stock Now Stands Behind Microsoft After Post-IPO Rally

Mumbai, June 17: Elon Musk’s SpaceX surged past Amazon in market value on Tuesday, capping another volatile session that showed investors’ enthusiasm for the newly listed aerospace and artificial intelligence company. Shares rose 4.8% to close at $201.80, giving SpaceX a market capitalisation of roughly $2.655 trillion—about $10 billion higher than Amazon’s and nearly $800 billion above its valuation at the time of its record-breaking IPO last week.  

At one point during the session, SpaceX briefly eclipsed the market value of software giant Microsoft before paring gains later in the day. The rally has propelled the company from the sixth-largest U.S.-listed firm by market value at its debut to fifth place, leapfrogging Amazon in just a few trading sessions. Right now, SpaceX stands behind Microsoft which has a market cap of $2.92 trillion. 

Options Frenzy Fuels Momentum 

The latest advance was driven in part by heavy trading in SpaceX’s newly listed options contracts. More than one million options contracts changed hands at one point, adding fuel to a rally that has seen the stock surge well above its IPO price of $135. Shares briefly climbed as high as $225.64 before giving back some gains into the close.  

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Trading volumes remained exceptionally strong, with investors continuing to pile into the stock despite broader weakness in technology shares. The rally comes amid growing optimism about SpaceX’s long-term prospects across space launches, satellite communications, artificial intelligence and related technologies.  

Index Inclusion Could Drive Further Demand 

Analysts said the stock could see further support in the coming weeks as SpaceX is expected to gain rapid inclusion in major equity benchmarks. The company is set for fast-track entry into the Nasdaq 100, while index providers FTSE Russell and MSCI are also expected to add the stock later this month. Such inclusions could generate fresh demand from passive funds and exchange-traded funds that track those benchmarks.  

SpaceX also announced that underwriters had exercised the greenshoe option associated with its IPO, increasing total proceeds from the offering to $85.7 billion from the initially announced $75 billion. The IPO was heavily oversubscribed, highlighting robust investor appetite for the stock.  

Valuation Debate Intensifies 

Despite the rally, some analysts have questioned whether the company’s valuation is justified. SpaceX reported revenue of $18.67 billion last year and posted a net loss of $4.94 billion following its merger with xAI, contrasting with many of the highly profitable technology giants it now rivals in market value. Nevertheless, bullish investors argue that SpaceX’s exposure to multiple high-growth industries gives it a unique long-term opportunity.  

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The stock’s meteoric rise has become one of Wall Street’s defining stories of 2026, with investors closely watching whether the post-IPO momentum can be sustained in the weeks ahead.  

Source

• Market data