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SpaceX surges 49% after going public, with a market value surpassing Amazon to rank fifth globally

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Gold Financial reports that on June 17, SpaceX rose for the third consecutive trading day, surpassing Amazon to become the fifth largest company in the world by market capitalization. SpaceX's stock price closed up 4.8%, pushing its market value to $2.65 trillion, about $8 billion higher than Amazon. When the stock was at its intraday high, this rocket and artificial intelligence company under Elon Musk's leadership briefly surpassed Microsoft, temporarily becoming the fourth largest company by market value globally. At least part of the rally was driven by the limited number of SpaceX shares available for trading, with only about 4.2% of the total shares being freely tradable on the first day of listing. This could lead to more volatile stock prices and cause significant fluctuations in market capitalization. SpaceX's stock price has increased by 49% from the IPO issue price of $135 per share, indicating sustained investor demand and easing concerns in the market about the record-breaking IPO's large scale being difficult to absorb.
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