SpaceX gains 3% after surpassing Amazon in market cap
SpaceX Shares rose 3% in premarket trading Wednesday as the Elon Musk-led company continued a remarkable rally that has seen the stock rise around 62% since its blockbuster IPO on Friday.
SpaceX’s steady gains this week have pushed its market value higher Amazon It was exceeded, albeit for a short time, on Tuesday Microsoft Being the fourth largest company in the USA in terms of valuation
SpaceX’s market cap was $2.65 trillion at Tuesday’s close.
Investors are betting heavily on founder and CEO Musk’s promise of his ability to generate long-term returns.
Musk shared on X on Sunday that the company could reach “approximately” $1 trillion in revenue by 2030.
SpaceX’s post the other day.
While SpaceX announced a net loss of $4.9 billion in 2025, it lost $4.28 billion in the first quarter of this year.
The high valuation of the company, which has become dominant in satellites thanks to its Starlink service and reusable rockets, has raised questions about its ambitious growth plans.
“Investors are trading the story, they’re trading the action, they’re trading the excitement, they’re trading Elon Musk, but at some point the rubber hits the road in terms of fundamentals that have to match that excitement,” Peter Boockvar, chief investment officer of One Point BFG Wealth Partners, told CNBC’s “Squawk Box Asia.”
“If they can deliver then it’s definitely an upside, but the valuation is so large that the company will really need to show up in growth at that valuation,” he added. “I think this will take at least a few years.”
