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Business NewsTechTech & Internet SpaceX set to surpass Amazon's market cap as post-IPO rally continues
SpaceX set to surpass Amazon's market cap as post-IPO rally continues
Synopsis
The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalisation of nearly $2.8 trillion if gains hold.
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Shares of Elon Musk's SpaceX rose more than 10% in premarket trading on Tuesday, putting the company on course to overtake Amazon. com in market value to become the world's fifth‑largest company, as it extended a post-IPO rally.
The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalisation of nearly $2.8 trillion if gains hold.
Amazon was last valued at $2.66 trillion.
More than $1.16 billion worth of SpaceX shares exchanged hands as of 04:14 a.m. ET, which was several times the trading volumes in Nvidia, Microsoft, Tesla and Apple combined.
The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalisation of nearly $2.8 trillion if gains hold.
Amazon was last valued at $2.66 trillion.
More than $1.16 billion worth of SpaceX shares exchanged hands as of 04:14 a.m. ET, which was several times the trading volumes in Nvidia, Microsoft, Tesla and Apple combined.
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