SpaceX overtakes Microsoft as the world's 4th most valuable company after historic IPO
Watching a rocket company turn into an absolute money-printing leviathan in real-time is wild. Elon Musk's spaceship crew just broke the stock market, proving that selling dreams of Mars is way more lucrative than selling Windows updates.
The newly minted ticker symbol SPCX hit the public markets with the force of a Falcon Heavy booster. The aerospace giant pulled off the largest IPO in human history, vacuuming up a staggering $85.7 billion from eager investors.
On its first trading day, June 12, the stock surged by 19.2%. Just when Wall Street analysts thought the hype might cool down over the weekend, Monday delivered another 19.6% jump, followed by an extra 10% to 12% spike as the Tuesday morning opening bell rang.
This relentless green-candle rally pushed the market cap of SpaceX past $2.95 trillion. For context, that puts Musk’s rocket venture ahead of Amazon’s $2.65 trillion and even squeezed past the software empire of Microsoft at $2.9 trillion. Only Nvidia, Alphabet, and Apple currently hold higher ground in the global market valuation hierarchy.
Trading software code for rocket fuel seems to be the ultimate wealth cheat code of the decade. The global economy now values theoretical Mars colonies over the actual infrastructure powering the modern internet, proving that hype truly is the most powerful force in the universe.
Source: Yahoo Finance
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