SpaceX Rallies 14% to Become World's Fifth-Largest Company; 2x Leveraged ETFs Related to SpaceX Surge

Tiger Newspress06-16 21:58

SpaceX shares rose 14% on Tuesday, as Elon Musk's rocket-builder continued its meteoric rise following a record-breaking IPO on Friday.

With the skyrocketing share price, SpaceX overtook Amazon in market cap. SpaceX's market cap stood at roughly $2.86 trillion as of early morning trading, while Amazon is valued at about $2.66 trillion. Microsoft's market valuation is roughly $2.91 trillion.

2x leveraged SpaceX ETFs surged across the board, with SPCU, LOFF, SPAX, and SPAL all rising by 28%.

The move comes after SpaceX shares jumped 20% in its first full day of trading after a blockbuster debut.

Earlier on Tuesday, SpaceX announced it would acquire popular artificial intelligence coding agent Cursor for $60 billion.

Musk, who serves as CEO of SpaceX, posted on X on Sunday that the company "might be able to reach approximately" $1 trillion revenue in 2030.

That would be a huge jump from the $18.7 billion in revenue it made in 2025. The company posted a $4.9 billion net loss in 2025, and it lost $4.28 billion in the first quarter of this year.

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Comments

  • Harj
    06-16 18:18
    Harj
    Elon Musk has a rare Ability to bring out this mammoth IPO in a unique way and become the first trillionaire on earth. It is not a mean outcome. I strongly feel that unlike other IPO's this will not decrease in the market value in days to come.
  • The first thing you need
    06-16 16:41
    The first thing you need
    Share your opinion about this news…
  • StockMaskter
    06-16 16:04
    StockMaskter
    Speculation at its best
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