SpaceX (SPCX) As Big As Amazon (AMZN)?
Shares of SpaceX (SPCX) are up another 5% this morning in pre-market trading ahead of the 9:30 AM ET open.
Based on where it’s trading right now, SpaceX has a market cap of $2.66 trillion. That’s the exact same market cap as Amazon (AMZN), which went public just over 29 years ago in May 1997.
Should current levels hold, SPCX would be the fifth largest public company in the US behind NVIDIA (NVDA), Alphabet (GOOGL), Apple (AAPL), and Microsoft (MSFT). The gap between SPCX and MSFT is roughly $300 billion.
We’ve been monitoring space stocks for the past couple of months ahead of the SPCX IPO, and below is a basket of them using our Trend Analyzer tool (available to members here).
Late last week when SpaceX first began trading, the rest of the space-stock space sold off hard as investors rotated into SPCX. Some of them bounced back a little yesterday, but they’re collectively now just 1.3% above their 50-DMAs on average. Year-to-date, though, they’re still up an average of 75%, with six of the 24 stocks shown up 100%+.
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The post SpaceX (SPCX) As Big As Amazon (AMZN)? first appeared on Bespoke Investment Group.
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