SpaceX set to surpass Amazon's market cap as post-IPO rally continues

Tesla

Tue 09:27

    June 16 (Reuters) - 
    Shares of Elon Musk's SpaceX SPCX.O rose more than 10% in premarket trading on Tuesday, putting the company on course to overtake Amazon.com in market value to become the world's fifth‑largest company, as it 
    extended a post-IPO rally
    .
  
The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalization of nearly $2.8 trillion if gains hold.
Amazon AMZN.O was last valued at $2.66 trillion. 
More than $1.16 billion worth of SpaceX shares exchanged hands as of 04:14 a.m. ET, which was several times the trading volumes in Nvidia NVDA.O, Microsoft MSFT.O, Tesla TSLA.O and Apple AAPL.O combined.




 (Reporting by Shashwat Chauhan in Bengaluru; Editing by Nivedita Bhattacharjee)
 ((Shashwat.Chauhan@thomsonreuters.com;))