SpaceX shares have risen significantly since beginning trade on the Nasdaq, surpassing Amazon and Microsoft in market value. The stock price increased by over 45%, reaching a market value of $2.94 trillion. Retail investors have shown strong interest in SpaceX shares. Additionally, SpaceX announced a deal to acquire the AI coding firm Cursor for $60 billion.
SpaceX shares continued to soar in their third day of trading Tuesday, gaining another 15% as buyer interest in Elon Musk’s largest company showed no sign of slowing down.
Ever since SpaceX shares began trading on the Nasdaq Friday afternoon, the company’s stock price has climbed more than 45% from $150 to more than $220, pushing its market value to $2.94 trillion.
The company debuted at a value of $1.77 trillion, and it has gained nearly $1 trillion in value since then.
SpaceX’s value now makes it the the world’s fourth largest publicly-traded company, leapfrogging both Amazon and Microsoft.
“There is only one stock retail [investors] care about right now,” wrote researchers at Vanda in a note to clients on Monday night.
“On a net basis, retail investors have now bought almost as much SPCX over the last two sessions as they bought across the entire US stock market last week,” they wrote, referring to the ticker symbol under which SpaceX trades.
On Tuesday morning, SpaceX announced that it had formally sealed a deal to acquire the AI coding firm Cursor in a deal that values the AI company at $60 billion.
SpaceX and Cursor had already agreed to the outline of a deal in April that gave SpaceX the option to acquire it, “or pay $10 billion for our work together.”
SpaceX shares could see even more volatility on Tuesday, when some financial exchanges are set to begin enabling trading in SpaceX options contracts, as those will contribute even more volume and trading activity.
Not all space stocks are benefitting from the SpaceX euphoria, however.
As soon as SpaceX began trading, “the rest of the space-stock space sold off hard as investors rotated into SPCX,” said analysts at Bespoke Investment Group on Tuesday.
Shares of Virgin Galactic, which trades under ‘SPCE,’ similar to SpaceX’s ‘SPCX,’ has faced steep selling in recent days. Other space-aligned stocks such as EchoStar and AST SpaceMobile also fell sharply after SpaceX’s debut.
Read the full article at NBC News →Billions of dollars have flowed into SpaceX ETFs as retail investors look past conventional valuations.
Bias read (Center): The article presents a factual observation about investment trends without overtly favoring one side. It does not use emotionally charged language or selectively present information to support a particular viewpoint.
Newly launched leveraged ETFs are experiencing significant cash inflows as investors seek opportunities to capitalize on the growing interest in SpaceX.
Bias read (Center): The article discusses financial market activity related to SpaceX without taking a stance on political issues. It focuses on investor behavior and financial products, which are not inherently politically charged.
SpaceX shares have risen significantly since beginning trade on the Nasdaq, surpassing Amazon and Microsoft in market value. The stock price increased by over 45%, reaching a market value of $2.94 trillion. Retail investors have shown strong interest in SpaceX shares. Additionally, SpaceX announced a deal to acquire the AI coding firm Cursor for $60 billion.
Bias read (Center): The article provides factual information about SpaceX's stock performance, investor behavior, and corporate acquisitions without overtly favoring any political perspective. It reports on economic developments with minimal editorializing or biased language.
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