
SpaceX shares rise 10%, poised to surpass Amazon in market value
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- SpaceX shares rose 10.1% to reach $211.8 during early premarket trading on Tuesday.
- The upward movement brings the company's projected market capitalization to nearly $2.8 trillion.
- The ongoing post-IPO rally positions the corporation to potentially surpass the total market value of Amazon.
SpaceX (NASDAQ:SPCX) shares rose 10.1% in premarket trading to reach $211.8 on Tuesday.
This move extended a post-initial public offering rally after the stock climbed more than 19% on Monday.
Market data indicated that the gain gives the corporation a market capitalization of nearly $2.8 trillion.
Projections showed this valuation places the business on course to overtake Amazon (NASDAQ:AMZN), which was last valued at $2.66 trillion.
Trading activity showed that over $1.16 billion worth of shares exchanged hands by 04:14 a.m. Eastern Time.
This volume represented several times the combined turnover of Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA), and Apple (NASDAQ:AAPL).