CryptoSlate6-17

SpaceX shares jump more than 50% in IPO week as thin float and leveraged trading fuel momentum

SpaceX shares surged more than 50% in their first week after the company priced its IPO at $135 and the stock traded above $222. The rally has been amplified by the release of only about 5% of shares for public trading, alongside retail speculation, leveraged perpetual futures and short liquidations that reinforced the move. SpaceX also announced a $60 billion acquisition of the AI coding tool Cursor, adding to a broader technology-platform narrative. The company’s roughly $3 trillion valuation now exceeds Amazon’s despite SpaceX not yet being profitable, leaving the move driven largely by momentum.

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