SPCX Briefly Overtakes MSFT To Become Fourth-Largest Company By Market Cap Within Days Of Blockbuster Nasdaq Debut

• Based on its peak market cap, SpaceX added $1.18 trillion to its market cap since its debut last week.
• At the time of writing, SpaceX had a market cap of $2.78 trillion, compared with Microsoft's $2.93 trillion and Amazon's $2.68 trillion.
• SpaceX announced on Tuesday that it had entered into a definitive agreement with Cursor parent Anysphere Inc. to acquire it for $60 billion.

Space Exploration Technologies Corp. (SPCX) briefly overtook Microsoft Corp. (MSFT) as the world’s fourth-largest company by market capitalization.

This comes just days after SpaceX’s blockbuster Nasdaq debut, which catapulted it into the world’s top ten companies by market capitalization.

On Tuesday, SpaceX’s peak market capitalization reached $2.95 trillion, edging past Microsoft’s highest market cap of $2.948 trillion briefly before the shares lost steam in the morning’s trade. Amazon.com Inc.’s (AMZN) peak market cap reached $2.68 trillion during the day.

Based on its peak market cap, SpaceX added $1.18 trillion to its market cap since its debut last week.

At the time of writing, SpaceX had a market cap of $2.78 trillion, compared with Microsoft's $2.93 trillion and Amazon's $2.68 trillion.

SpaceX shares were up more than 10% in Tuesday morning’s trade, while Microsoft shares were down about 2%. SPCX was among the top trending tickers on Stocktwits at the time of writing.

SPCX Announces $60B Acquisition Days After Nasdaq Debut

SpaceX announced on Tuesday that it had entered into a definitive agreement with Cursor parent Anysphere Inc. to acquire it for $60 billion.

The company stated in a filing with the U.S. Securities and Exchange Commission (SEC) that it expects the Cursor deal to close in the third quarter (Q3) this year.

The transaction will see Anysphere merge into SpaceX's corporate structure, with Cursor operating as a wholly owned subsidiary following the deal's close.

Peter Diamandis Dismisses SPCX Valuation Concerns

Early SpaceX investor and X Prize Foundation’s Executive Chairman Peter Diamandis on Monday dismissed valuation concerns around the Elon Musk-led company.

He said SpaceX is being valued like a traditional space company, even though it is effectively a combination of three converging businesses.

Diamandis pointed to SpaceX's launch monopoly, rapidly expanding Starlink network, and frontier AI initiatives as the pillars of his bullish thesis.

Wedbush’s Global Head of Tech Research, Dan Ives, on Monday said that he would be “shocked” if the SpaceX and Tesla Inc. (TSLA) merger does not happen over the next year.

SpaceX COO Gwenn Shotwell said during a CNBC interview that there is no question about the synergies between Tesla and SpaceX.

SPCX IPO Haul Rises To $85.7B

SpaceX announced on Monday that the proceeds from its IPO had risen to $85.7 billion from $75 billion after underwriters exercised the option to purchase additional shares.

SpaceX said underwriters chose to buy 83.3 million additional shares, allowing the company to scoop up an additional $10.7 billion through the offering.

What Retail Traders Think About SPCX Stock

Retail sentiment on Stocktwits around SpaceX trended in the ‘extremely bullish’ territory, with message volumes at ‘extremely high’ levels at the time of writing.

The S&P 500 ETF (SPY) is up 26% over the past 12 months, while the Invesco QQQ Trust (QQQ) is up 41%.

The iShares A.I. Innovation and Tech Active ETF (BAI) is up 94% during this period.

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