Huo Xing Cai Jing reports that on June 16, SpaceX’s stock surged approximately 11% in pre-market trading in the U.S., potentially continuing its more than 40% gain over the previous two trading days. By Monday’s close, the company’s market capitalization exceeded $2.5 trillion, approaching Amazon’s valuation of nearly $2.7 trillion. According to a statement released on Monday, SpaceX has exercised its overallotment option in its initial public offering (IPO), allowing underwriters to sell an additional 83.3 million shares. This so-called “greenshoe” mechanism increased total proceeds to $86.2 billion; after deducting the $500 million underwriting fees listed in the prospectus, the net proceeds amounted to $85.7 billion. Data from Vanda Research shows that retail investor buying volume in SpaceX’s first two trading days equaled the total retail buying volume across the entire U.S. stock market last week, easing some market concerns about the ability to absorb such a large IPO.
SpaceX stock rises over 11% in pre-market trading, targeting a 50% surge within three days.
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Summary
SpaceX's stock rose more than 11% in pre-market trading on June 16, extending a more than 40% market rally over its first two days as a public company. The firm’s market capitalization reached over $2.5 trillion by Monday’s close, nearly matching Amazon’s $2.7 trillion valuation. SpaceX also exercised the over-allotment option in its IPO, enabling underwriters to sell an additional 83.3 million shares, bringing total fundraising to $86.2 billion before underwriting fees. Retail buying over the first two days equaled the total retail purchases across the broader U.S. market for the prior week, alleviating concerns about the IPO’s scale. Market trends indicate strong interest from both retail and institutional investors.
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