On Tuesday, SpaceX became the fifth largest company in the world in terms of market value, surpassing Amazon and approaching Microsoft, just days after its historic initial public offering.
In the middle of Tuesday's trading session, SpaceX was valued at approximately $2.75 trillion after another rise of about 9 percent, while Amazon was valued at $2.67 trillion. SpaceX launched its shares at an issue price of $135, and by Tuesday, the share price had reached $209.
SpaceX briefly surpassed Microsoft's market capitalization (around $2.918 trillion) on Tuesday.
Nvidia, the chip manufacturer, tops the list with a value exceeding $5 trillion, followed by Alphabet (Google) and Apple.
Since its historic listing on the stock exchange on Friday, shares of the company owned by Elon Musk have risen by about 40 percent, driven by demand from investors, both individuals and institutions.
The company raised $86 billion on Friday during its initial public offering on Wall Street, far exceeding the $25.6 billion raised by Saudi Aramco in 2019.
The initial stated target was $75 billion, but the company's partner banks resorted to an option that allowed them to offer a larger number of shares for sale.
