US stocks: SpaceX vaults past Microsoft and Amazon's market value as post IPO momentum builds

SpaceX shares surged 14.3% to $220, valuing the company at approximately $2.85 trillion and surpassing Amazon's $2.64 trillion market cap, while briefly exceeding Microsoft's $2.92 trillion valuation. The stock is up 62% above its $135 IPO price, with upcoming index inclusions into the Nasdaq 100, FTSE Russell, and MSCI expected to drive further demand from passive funds. Underwriters exercised the greenshoe option, raising total IPO proceeds to $85.7 billion from the initial $75 billion, though analysts warned of elevated volatility due to the small float and stretched valuation.