SpaceX Valued at Nearly $2.9 Trillion After Overnight Surge
SpaceX shares traded above $220 in overnight trading, pushing the company's valuation to roughly $2.9 trillion, within $100 billion of Microsoft. The IPO price was $135 per share.
SpaceX ($SPCX) has surged in overnight trading, with shares crossing $220. This values the company at approximately $2.9 trillion, placing it just $100 billion below Microsoft's market cap.
The stock is now up 63% from its IPO price of $135 per share. Additionally, the combined market capitalization of SpaceX and Tesla has reached a record $4.4 trillion, surpassing Apple's market cap and roughly matching Google's.
Underwriters exercised the full "greenshoe" overallotment, allowing SpaceX to raise a record $85.7 billion from its initial public offering. The scale of this IPO is unprecedented in history.
Source: The Kobeissi Letter