SpaceX Surges 4.8% to $2.6 Trillion Valuation Amid Retail FOMO and ETF Frenzy

Price ActionCorporate Action Impact 4
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SpaceX surged 4.8% Tuesday, its third straight gain after a landmark IPO, closing at a $2.6 trillion valuation that briefly surpassed Amazon and Microsoft in intraday trading. The company lost $4.9 billion on $18.7 billion in revenue last year, while Amazon earned $77.7 billion on $716.9 billion in revenue and Microsoft netted $101.8 billion on $281.7 billion in revenue. Morningstar analysts called the stock highly overvalued and lowered their price target by a dollar to $62, though they said an AI revenue boost from the pending $60 billion all-stock acquisition of coding startup Cursor could lift their bearish view to $154 to $169 per share. Retail traders bought $225.2 million in SpaceX stock in its first two days, equal to 75% of all net buying of single stocks, while 11 leveraged ETFs benchmarked to SpaceX attracted more than $3 billion in volume Tuesday, up from $1 billion on their Monday debut. Options trading also began Tuesday with a record 1.8 million contracts worth $2.8 billion changing hands, with call options outnumbering puts 1.3-to-1.

Impact on stocks 5

Financials▲ · 2 stocks
Artificial Intelligence▲ · 2 stocks
Space Economy▲ · 1 stocks

Off-coverage companies 1

CursorPrivate± Mixed
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