It’s blast-off for the newly minted public rocket company SpaceX (SPCX).
SpaceX stock is up 9% in premarket trading on Tuesday, indicating an open of above $200 for the first time
At this level, SpaceX would open with a market cap of more than $2.9 trillion. And with that comes a few milestones. A $2.9 trillion market cap for SpaceX would put it roughly in line with tech heavyweight and nicely profitable Microsoft (MSFT), with a $2.95 trillion market cap, according to Yahoo Finance AlphaSpace data.
What’s more, the combined market cap of Elon Musk’s SpaceX ($2.9 trillion) and Tesla (TSLA) ($1.3 trillion) would be near the $4.3 trillion market cap of Apple (AAPL), which is also nicely profitable, unlike SpaceX. To say it has been a sizzling start for SpaceX would be an understatement. SpaceX officially priced its stock at $135 on June 11, offering 555.6 million shares.