SpaceX (Space Exploration Technologies Corp. (SPCX.US)) extended upswing for a third consecutive trading day, soaring 4.83% overnight (16th) to close at USD201.8, with its market cap whopping USD2.65 trillion, surpassing Amazon.com, Inc. (AMZN.US) to become the world’s fifth-largest company by market value.

During overnight trading, SpaceX at one point hit an intraday peak of USD225.64, with its market cap briefly exceeding that of Microsoft Corporation (MSFT.US), making it the world’s fourth-largest listed company by market value for a short period.

Since its debut, SpaceX saw part of its share volatility from its relatively small public float, with only about 4.2% of shares available for trading on the first day of listing.

Market participants expect that as lock-up periods gradually expire, SpaceX’s share price may face greater downward pressure. The first batch of locked-up shares will become eligible for sale after the company releases its first earnings report.
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AASTOCKS Financial News
Website: www.aastocks.com

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