SpaceX surges 16% as IPO rally pushes valuation near Amazon

SpaceX shares surged more than 16% on Monday, extending the rally that followed the company’s record Nasdaq debut on Friday.

SPCX recently traded near $188, up about 39% from its $135 IPO price and roughly 25% above its $150 opening trade. The move pushed SpaceX’s implied market value to roughly $2.4 trillion, making it one of the six largest US listed companies and putting it closer to Amazon, which is valued at about $2.68 trillion.

The rally builds on a historic debut for Elon Musk’s rocket, satellite, and AI company. SpaceX sold 555.6 million shares at $135 each, initially raising $75 billion at a valuation of about $1.75 trillion. Reuters reported Monday that underwriters exercised the greenshoe option, lifting total IPO proceeds to $85.7 billion.

The stock’s second session also coincided with the launch of a wave of leveraged SpaceX ETFs, giving traders immediate tools to amplify long or short exposure to SPCX. Several issuers, including Defiance, Direxion, GraniteShares, ProShares, Leverage Shares, Tradr, REX Shares, and Tuttle, have moved to launch products tied to the stock.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.