There are no gravity limits for Elon Musk’s SpaceX (SPCX). In a historic Tuesday session just days after its debut, the stock exploded 14.3% to hit $220, pushing its market cap to a staggering $2.85 Trillion and officially dethroning Amazon ($2.64T) while briefly eclipsing Microsoft ($2.92T) in the global top five.
The mind-boggling data driving this parabolic market distortion:
⚡ The 62% Post-IPO Rocket
- The Valuation Surge: At $220/share, SpaceX has surged 62% above its $135 IPO price, fueled by a freshly exercised $85.7B “greenshoe” capital booster.
- Insane Liquidity Absorption: In morning trading alone, a massive $23.1 Billion worth of SPCX shares changed hands—obliterating the combined daily volumes of Nvidia, Microsoft, Tesla, and Apple.
- The $60B Acquisition Blitz: Fueling the momentum, SpaceX concurrently announced a blockbuster $60 Billion acquisition of software firm Anysphere.
🎲 The Options Gamma Squeeze & Passive Index Inflow
- The Options Launch: Official SPCX options debuted on Tuesday with strikes spanning $25 to $380. SpotGamma warns that heavy call demand is threatening a classic “gamma squeeze,” forcing market makers to aggressively buy underlying shares in a low-liquidity, tight-float environment.
- The Index Tsunami: The rally is set to intensify. Passive funds must forcefully buy the stock due to fast-track inclusions into major global benchmarks:
- Nasdaq-100: Imminent fast-track inclusion.
- FTSE Russell: Effective June 26.
- MSCI: Effective June 29.
⚠️ Speculation Mirage vs. Core Fundamentals Despite the euphoria, Swissquote Bank issued a stark warning, calling the current valuation “absolutely nonsensical” and driven by pure momentum trading.
The underlying reality? Unlike profitable big-tech peers, SpaceX recorded $18.67 Billion in sales last year alongside a massive $4.94 Billion net loss, heavily dragged down by its merger with the cash-burning xAI. Yet, with massive passive flows colliding with a tiny free float, Wall Street brokerages are initiating “Buy” ratings, betting that structural demand will completely override standard corporate fundamentals.