SpaceX heads toward fourth day of gains since record IPO

Shares of SpaceX rose 4.5% in premarket trading, extending a four-day rally to about 49% since its record IPO, making it the fifth-largest stock globally with a market cap approaching Microsoft. The stock low float of about 4.2% and potential Nasdaq 100 index inclusion are supporting prices, though lockup expiries could add downside pressure. The rally comes ahead of the Federal Reserve rate decision under new chair Kevin Warsh and a US-Iran interim peace deal signing.