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stocksJun 16, 2026, 5:50 PM

SpaceX Surges 9% in a Day, Valuation Reaches $2.78 Trillion; Oil Drops Below $80

SpaceX gained another 9% on Tuesday, extending its rally to 40% since last week, pushing its market cap to $2.78 trillion and surpassing Amazon. Meanwhile, oil prices fell below $80.

SpaceX continued its remarkable rally on Tuesday, rising 9% to bring its total gain over the past week to 40%. With this move, the company's market capitalization has reached $2.78 trillion, surpassing Amazon and trailing Microsoft by only $200 billion. SpaceX is now the fourth most valuable company.

In parallel, oil prices fell below the $80 per barrel mark, though the post did not specify the exact contract or reasons for the decline.

Source: FXStreet Forex News