SpaceX set to surpass Amazon's market cap as post-IPO rally continues

June 16 : Shares of Elon Musk's SpaceX rose more than 10 per cent in premarket trading on Tuesday, putting the company on course to overtake Amazon.com in market value to become the world's fifth‑largest company, as it extended a post-IPO rally.

The stock, which surged more than 19 per cent on Monday, was last up 10.1 per cent at $211.8, giving the company a market capitalization of nearly $2.8 trillion if gains hold.

Amazon was last valued at $2.66 trillion.

More than $1.16 billion worth of SpaceX shares exchanged hands as of 04:14 a.m. ET, which was several times the trading volumes in Nvidia, Microsoft, Tesla and Apple combined.