SpaceX (NASDAQ:SPCX) shares edged higher in premarket trading on Thursday after posting their first daily decline since the company’s record-breaking stock market debut, following a remarkable rally that briefly propelled the aerospace group above some of the world’s largest technology companies by market value.
SPCX rose 1.2% before the opening bell by 05:08 ET (09:08 GMT), recovering some ground after closing 4.95% lower at $191.82 on Wednesday. Despite the pullback, the company retained a market capitalization of roughly $2.53 trillion, placing it just below Amazon.com (NASDAQ:AMZN).
Historic IPO Continues to Drive Investor Interest
The decline followed an extraordinary run that has captured the attention of investors globally.
SpaceX launched its initial public offering on June 12, 2026, pricing shares at $135 and raising $75 billion in what became the largest IPO ever completed. Underwriters subsequently exercised their greenshoe option on June 15, increasing total proceeds to $85.7 billion.
Even after Wednesday’s retreat, SPCX remained approximately 50% above its IPO price after only four trading sessions, underscoring the scale of investor demand for the stock.
Market Value Briefly Surpasses $3 Trillion
Momentum reached another level earlier this week when SpaceX shares surged in after-hours trading on Monday.
The stock touched $229.85, implying a market valuation exceeding $3 trillion and temporarily moving ahead of both Amazon and Microsoft in the rankings of the world’s most valuable listed companies.
Although those gains eased during regular trading, SpaceX still reached an intraday high of $225.64, enough to challenge Microsoft for fourth place globally by market capitalization while remaining ahead of Amazon.
Musk Extends Lead Among World’s Richest Individuals
The surge in SpaceX shares has also had a significant impact on global wealth rankings.
As the company’s valuation climbed beyond $2.7 trillion, Elon Musk’s stake in the business increased substantially in value, widening his lead at the top of the world’s richest individuals list.
The stock’s rapid post-IPO appreciation has further strengthened Musk’s financial position following an already exceptional year for his business interests.
SpaceX Expands AI Ambitions With Anysphere Acquisition
The company has wasted little time pursuing strategic expansion since becoming publicly traded.
On Tuesday, SpaceX announced an agreement to acquire Anysphere, the developer of the AI coding platform Cursor, in an all-stock transaction valued at $60 billion.
The deal strengthens SpaceX’s exposure to one of the fastest-growing segments of artificial intelligence, where companies are increasingly monetizing AI-powered coding tools for enterprise customers.
Cursor has gained popularity among developers by using artificial intelligence to automate software development tasks, establishing itself as a competitor to major AI providers including Anthropic and OpenAI.
The acquisition also builds on SpaceX’s purchase of xAI in February 2026, with Cursor expected to enhance the group’s capabilities in AI-assisted software development.
Options Trading and Tokenized Shares Add Momentum
Market participants have pointed to the launch of listed options as a major factor behind the stock’s recent volatility and rapid gains.
The introduction of derivatives has significantly expanded the pool of investors able to take positions in SPCX, while hedging activity by options market makers may be amplifying price movements.
At the same time, SpaceX’s IPO is attracting attention beyond traditional financial markets. A tokenized version of the stock, trading as SPACEX/USD on Biconomy.com, has emerged as a notable example of how digital asset infrastructure is interacting with major public listings.
Investors Watch Key Technical Levels
Attention is now turning to whether SpaceX can maintain a valuation above the $2.7 trillion level achieved earlier this week and eventually challenge the $3 trillion mark again.
The session high of $225.64 remains the nearest technical hurdle for the stock, while the $135 IPO price continues to serve as a key psychological support level for longer-term investors.
Market participants are also awaiting the eventual publication of analyst coverage from IPO underwriters once post-listing restrictions expire. Until then, trading activity is likely to be shaped by options flows, potential index inclusion developments and broader market sentiment.