MARKET NEWS

SpaceX (SPCX) surged again on Tuesday, briefly topping both Amazon (AMZN) and Microsoft (MSFT) as the rocket maker's market value approached $3 trillion.

As of Tuesday's close at $201.68, SpaceX was valued at roughly $2.64 trillion, putting it behind only Nvidia (NVDA), Alphabet (GOOGL, GOOG), Apple (AAPL), Microsoft, and Amazon among US public companies, according to a Yahoo Finance analysis of AlphaSpace data.

That makes SpaceX one of the fastest new entrants ever into the top tier of the US market. Just days after its public debut, the company is already trading in the same market-cap neighborhood as the world's largest technology companies.

The move capped a stunning post-IPO run. From its $150 opening trade, SpaceX had gained about 50% at Tuesday's high, adding nearly $1 trillion in market value. Measured from its $135 IPO price, the company had rallied 67% by 10:03 a.m. ET Tuesday.

The leaderboard move was not just symbolic. At the same moment SpaceX hit its high, Amazon was valued at nearly $2.65 trillion and Microsoft at nearly $2.93 trillion. SpaceX cleared Amazon comfortably and edged past Microsoft at the high, putting it briefly inside the top four.

The rally followed an already historic day on Monday.

The public debut of Elon Musk's rocket and AI company is expected to make history.

• SpaceX stock jumps nearly 20% following largest IPO ever

• Elon Musk becomes world's first trillionaire

• SpaceX has had a skyrocketing valuation journey

SpaceX added about $413 billion in market value, ranking as the third-largest one-day gain in Yahoo Finance's analysis of daily moves among the current largest US public companies going back to 2019.

The surge also came with a retail stampede. SpaceX became retail's biggest IPO trade, underscoring how quickly the stock moved from Wall Street event to Main Street momentum trade.

The bigger point is simpler: Wall Street is no longer treating SpaceX like a speculative new issue. Investors are pricing it like a megacap platform company, with Starlink, defense, launch services, and AI-related infrastructure ambitions all folded into the story.

For now, the stock is moving faster than the debate around it.

Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at [email protected].