SpaceX stock is surging in early trading, pushing its market capitalization above $2.9 trillion and putting the rocket and AI company neck-and-neck with Microsoft. Combined with Tesla’s roughly $1.3 trillion valuation, Elon Musk’s two flagship companies are closing in on Apple’s $4.3 trillion market cap — a striking milestone for the newly public SpaceX just days after its record-breaking IPO.
This rapid ascent underscores the market’s massive bet on Musk’s intertwined empire of space exploration, electric vehicles, and cutting-edge AI.
Brian Sozzi for Yahoo Finance:
A $2.9 trillion market cap for SpaceX would put it roughly in line with tech heavyweight and nicely profitable Microsoft (MSFT), with a $2.95 trillion market cap, according to Yahoo Finance AlphaSpace data.
What’s more, the combined market cap of Elon Musk’s SpaceX ($2.9 trillion) and Tesla ($1.3 trillion) would be near the $4.3 trillion market cap of Apple, which is also nicely profitable, unlike SpaceX.
To say it has been a sizzling start for SpaceX would be an understatement.
SpaceX officially priced its stock at $135 on June 11, offering 555.6 million shares. The pricing valued SpaceX at $1.78 trillion. SpaceX made its historic public debut on the Nasdaq on June 12, when the stock officially opened for trading around midday at $150 per share.
On a net basis, retail investors have now bought almost as much SpaceX over the past two sessions as they bought across the entire US stock market last week.
MacDailyNews Note: SpaceX (SPCX) just opened at $200.42
+7.92 (+4.11%) with a market cap of $2.52T. Tesla (TSLA) has a market cap of $1.515T. Combined market value: $4.035T. Apple (AAPL) currently has a market cap of $4.325T.
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With a P/E ratio of 800???