Shares of Elon Musk’s space and AI company SpaceX jumped more than 14% on Tuesday, taking the company’s market cap beyond $2.85 trillion (about ₹240 lakh crore). With this speed, SpaceX has left tech company Amazon behind and for some time had even overtaken Microsoft. SpaceX has now become the fifth most valuable company in the world. Not only this, SpaceX shares had risen by more than 20% on Monday. With this, Elon Musk earned 164 billion dollars i.e. about 15.5 lakh crore rupees in just one day. This is 11% more than Warren Buffet’s lifetime earnings of $148 billion i.e. about Rs 14 lakh crore. Just a few days after its listing on Wall Street, investors are continuously buying this stock. Market cap reaches $2.85 trillion This space and artificial intelligence company was trading at $220 on Tuesday, which is a gain of 14.3% in a day. This price is more than 62% above its IPO price of $135. At this stage, the total value of SpaceX is estimated at around $2.85 trillion, which has included it among the five most valuable companies in the world. This company has been the biggest contributor to the rise in the Nasdaq Composite Index. Left behind Amazon, overtook even Microsoft With this speed, SpaceX has left behind Amazon, whose market capitalization is about 2.64 trillion dollars. Apart from this, the company had also left behind Microsoft for some time, whose value is around 2.92 trillion dollars, although later SpaceX came down slightly. The world’s three largest companies currently have a market valuation of more than $4 trillion. Investors’ enthusiasm increased with the start of options trading. Trading in options related to SpaceX shares started on Tuesday, which has further increased the interest among investors. Market participants now have a new way to bet on the direction of this newly listed stock. Brent Kochuba, founder of the Spotgamma options analytics platform, said SPCX options launched on Tuesday, offering standard monthly expirations and strike prices ranging from $25 to $380. He said if demand for call options remains heavy, dealers may be forced to buy SPCX shares even in low liquidity conditions. Demand for the index may also increase from next week, while more shares are not expected to become available for the next 1-2 months. Questions raised on valuation, experts said that despite such huge gains, some market experts have raised questions on whether this valuation is completely correct. “We can definitely say that this valuation doesn’t make any sense today. People are buying SpaceX in the hope that others will also buy it and will push the price higher – this is just speculation,” said Ipec Ozkardeskaya, senior market analyst at Swissquote Bank.
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Musk’s SpaceX becomes the 5th most valuable company in the world: leaving Microsoft-Amazon behind; Musk’s one day earning is 11% more than Buffett’s net worth
