SpaceX (NASDAQ:SPCX) continued its remarkable post-listing advance on Tuesday, overtaking Amazon.com’s (NASDAQ:AMZN) market capitalization and briefly surpassing Microsoft as it climbed the ranks of the world’s most valuable publicly traded companies.
The stock finished the session up 4.83% at $201.80, giving the aerospace and technology group an implied valuation of approximately $2.66 trillion, around $8 billion higher than Amazon’s market value.
Momentum carried into Wednesday’s premarket session, with shares rising a further 3.5% by 05:21 ET (09:21 GMT).
IPO Performance Continues to Impress Investors
The latest gains extend what has already become one of the most closely watched post-IPO rallies in market history.
SpaceX priced its initial public offering at $135 per share on June 12, 2026, raising $75 billion in the largest stock market debut ever recorded. Underwriters subsequently exercised their greenshoe option on June 15, increasing total proceeds to $85.7 billion.
Following Tuesday’s close, SPCX had gained roughly 50% from its IPO price in only four trading sessions, an extraordinary performance that has drawn widespread attention across financial markets.
Briefly Crosses the $3 Trillion Threshold
The rally reached another milestone during after-hours trading on Monday, when SPCX touched $229.85 per share.
At that level, the company’s implied market capitalization exceeded $3 trillion, allowing it to move ahead of both Amazon and Microsoft at the same time.
Although the stock later retreated from those highs, Tuesday’s intraday peak of $225.64 was enough to keep SpaceX ahead of Amazon and within striking distance of Microsoft among the world’s largest listed companies.
Elon Musk Strengthens Position as World’s Richest Individual
The rapid increase in SpaceX’s valuation has also reshaped global wealth rankings.
As the company’s market capitalization climbed beyond $2.7 trillion, CEO Elon Musk’s ownership stake generated a substantial increase in his personal wealth, widening his lead at the top of global billionaire rankings.
The surge has further reinforced Musk’s position as the wealthiest individual in the world.
Options Trading Fuels Additional Momentum
Market participants have pointed to the recent launch of listed options on SPCX as a significant catalyst behind the latest phase of the rally.
The availability of derivatives has expanded access for investors seeking exposure to the stock and created additional demand through market-maker hedging activity.
As traders purchase call options, dealers often buy shares to hedge their positions, a process that can amplify upward price movements during periods of strong demand.
Leveraged Funds Reflect Strong Investor Interest
Exchange-traded products linked to SpaceX also posted substantial gains.
The ProShares Ultra SpaceX ETF (SPCF) rose 10.16% to $38.37, while the GraniteShares 2x Long SpaceX Daily ETF (SPAL) advanced 9.84% to $38.26.
A broader group of leveraged and inverse products, including Direxion’s LOFF and DOWN, Tradr’s SPCM and SPCG, and Defiance’s SPCU, continue to provide traders with multiple ways to gain exposure to SPCX price movements.
Trading Activity Remains Elevated
Approximately 311.4 million SPCX shares changed hands during Tuesday’s session, compared with an average volume of around 389 million shares.
While trading activity remained intense, it was not exceptionally high relative to recent sessions. Given that the stock has been publicly traded for only four days, average volume metrics are still developing.
The company’s IPO is also drawing attention beyond traditional financial markets. A tokenized version of SPCX, trading as SPACEX/USD on Biconomy.com, highlights growing interest in combining public equities with digital asset infrastructure.
Key Levels Now in Focus
Investors are now watching whether SpaceX can maintain its valuation above $2.7 trillion and potentially challenge the $3 trillion level again.
The recent high of $225.64 serves as an important near-term resistance level, while the IPO price of $135 remains a key psychological support level for longer-term shareholders.
Market participants are also looking ahead to future analyst coverage once post-IPO quiet-period restrictions expire, as well as potential lockup expirations, index inclusion developments and broader market sentiment, all of which could influence the next phase of trading in SPCX.