SpaceX has just surpassed a market capitalization of $2 trillion in its first few days of trading on the Nasdaq. Elon Musk’s space company has thus jumped straight into the top three of the largest U.S. market capitalizations, just behind Apple and Microsoft. Amazon, previously number 3, is now within striking distance. Unprecedented for an IPO 🚀
🔍 What’s happening?
SpaceX stock surged right from the opening bell on the Nasdaq, propelling the company’s valuation beyond even the most optimistic expectations. In just a few trading sessions, the company founded by Elon Musk has amassed several hundred billion dollars in additional market capitalization.
This sensational IPO immediately places SpaceX on par with tech giants that have been established for decades. Amazon, currently valued at around $2.1 trillion, sees its top spot threatened for the first time in years.
💡 Why does this matter?
This massive valuation completely reshuffles the deck in the U.S. tech sector. For traders, it opens up a new playing field with an ultra-volatile stock that now carries as much weight as entire sector indices. Institutional flows will automatically shift.
The timing of this IPO in June 2026 benefits from a renewed appetite for growth stocks after two years of market correction. Investors are betting heavily on SpaceX’s dominance in commercial space, Starlink satellites, and government contracts. The question now: how high can the valuation climb before a correction?
📊 Our take
We’re seeing classic early-listing euphoria. It’s reminiscent of Tesla’s early days—only worse.
Our take: SpaceX has solid fundamentals, with Starlink generating recurring cash flow and NASA contracts locked in for a decade. But $2 trillion for a company that still relies heavily on public subsidies and whose margins remain opaque is a leap of faith. Sector peers (Boeing, Lockheed) are valued at one-tenth of that for comparable revenues. The Elon Musk premium explains part of it, but not all of it. In Europe, the European Space Agency is accelerating its constellation program to compete with Starlink, a geopolitical risk that Wall Street underestimates.
We expect a technical correction below $1.8 trillion within three months when the first lock-up periods expire. For the French trader: if you want to trade SpaceX, wait for the first real pullback to 20-25% below the peak. Right now, it’s too hot to handle.
✅ Key Takeaway
- SpaceX surpasses $200 billion on the Nasdaq upon its debut
- The company joins the top 3 in the US, just behind Apple and Microsoft
- Amazon loses its No. 3 spot for the first time
- Valuation driven by Starlink and government space contracts
- Typical IPO euphoria with risk of a short-term technical correction
What do you think? Does SpaceX really deserve a higher valuation than Amazon, or are we in the midst of a tech bubble 2.0?
🔎 See also
To learn more, check out all our stock analyses on ActuTrading Stocks 📈
Source: Nasdaq, market data
