SpaceX Market Surge

SpaceX’s newly public shares extended a blistering rally after the largest IPO in history, briefly pushing Elon Musk’s company past Amazon and near Microsoft in market value. The stock rose from its $150 debut price to as high as $225 before closing Tuesday at $201.68, leaving SpaceX valued around $2.6 trillion to $2.65 trillion and ranking among the world’s five most valuable companies. Retail demand, options trading and excitement around Musk’s combined rocket-and-AI ambitions fueled the surge, but analysts raised bubble concerns as SpaceX’s valuation dwarfed its current financial performance, including a price-to-sales ratio near 150 and recent losses. The rally also coincided with SpaceX’s planned $60 billion acquisition of Cursor, adding to investor expectations that the company will deepen its AI capabilities after going public.