SpaceX Briefly Tops Amazon and Microsoft as Stock Hits $225.64 on First Trading Day

According to Reuters, SpaceX briefly topped Microsoft and overtook Amazon by market value intraday on June 16, with shares hitting $225.64 before closing at $201.80, up 4.8%. The stock reached a market capitalization of approximately $2.655 trillion at its peak.

SpaceX share turnover reached $61 billion, with more than 1 million listed options contracts traded by early afternoon. The sharp intraday swings reflected limited liquidity, as only about 4% of the company's roughly 13.1 billion outstanding shares were freely tradable at listing following its IPO, which raised $75 billion.