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SpaceX surges past Microsoft in market cap
CNBC··16 Jun
CNBC reported that SpaceX shares rose about 13% on Tuesday after a blockbuster IPO, pushing its market cap to about $2.94 trillion and past Microsoft's $2.93 trillion valuation, making it the fourth-largest US company.
Prism
What It Means For You
- SpaceX's public listing has created a new mega-cap tech-space stock.
- The valuation depends on long-term belief in rockets, satellites and AI-linked growth.
- Losses and capital intensity make the stock risky despite momentum.
What's Happening
- SpaceX shares rose about 13% on Tuesday.
- The company overtook Microsoft by market cap.
- SpaceX also announced a $60 billion acquisition of Cursor, according to CNBC.
Market Context
- Shares rose 20% on their first full trading day.
- CFRA initiated coverage with a sell rating.
- SpaceX was founded in 2002 and dominates reusable rockets and Starlink satellites.
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