In a remarkable surge following its record-breaking IPO, SpaceX's market capitalization soared past $2.8 trillion on Tuesday, making it the world's fourth-most valuable company. The shares, trading under the ticker SPCX, jumped over 14% to about $220, continuing a powerful rally that began after the company went public on Friday at $135 per share.
The rapid ascent pushed SpaceX's valuation beyond that of tech titans Amazon and briefly, Microsoft. This comes just four trading days after SpaceX raised approximately $86 billion in the largest initial public offering in history. The rally is fueled by intense investor demand for a limited number of publicly available shares, with only about 4.9% of the company floated in the IPO.