On June 16, SpaceX's stock rose significantly in pre-market trading, increasing by approximately 11%, and is expected to continue its momentum after a more than 40% rise in the first two trading days as a public company. By the close on Monday, the company's market capitalization had surpassed $2.5 trillion, nearing Amazon's valuation of nearly $2.7 trillion. According to a statement released on Monday, SpaceX has exercised its over-allotment option for its initial public offering (IPO), allowing underwriters to sell an additional 83.3 million shares. This so-called 'green shoe' mechanism has increased the total fundraising amount to $86.2 billion, and after deducting the $500 million underwriting fee listed in the prospectus, the actual amount raised is $85.7 billion. Data from Vanda Research indicates that retail buying volume in the first two days of SpaceX's listing was equivalent to the total retail buying volume in the U.S. stock market last week, alleviating some market concerns about the ability to absorb such a large-scale IPO.
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SpaceX Stock Expected to Surge Over 50% in Just Three Trading Days
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