SpaceX shares surged for a third consecutive day following a landmark IPO, pushing the company’s market valuation to $2.6 trillion amid intense retail investor demand and leveraged ETF activity.

Key Points

• SpaceX shares closed at $201.80 on Tuesday, briefly making the company the fourth-largest firm in the United States by market capitalization.
• Retail investors purchased $225.2 million in stock during the first two days of trading, accounting for 75% of all net buying of single stocks.
• Leveraged ETFs benchmarked to SpaceX saw trading volume jump to $3 billion on Tuesday, up from $1 billion during their Monday debut.
• The company announced a $60 billion all-stock acquisition of the automated coding startup Cursor to bolster its xAI division.
• Cboe Global Markets reported a record debut for SpaceX options, with 1.8 million contracts traded and call options outnumbering put options 1.3-1.

Why it Matters

The rapid valuation surge reflects a significant supply-demand imbalance caused by a limited IPO float and aggressive speculation from retail and institutional traders. While the stock price assumes perfect execution of unproven technologies, the company's strategic pivot toward AI integration remains a critical factor for long-term market viability.