Elon Musk's SpaceX is already closing in on Microsoft's market cap and a big Apple milestone

SpaceX’s newly listed stock surged in early trading, opening above $200 for the first time and implying a market cap near $2.9 trillion. That valuation would put it close to Microsoft’s roughly $2.95 trillion market cap, highlighting how quickly the IPO has scaled. The article also notes that SpaceX’s value combined with Tesla’s roughly $1.3 trillion market cap would approach Apple’s about $4.3 trillion valuation. SpaceX priced its IPO at $135 on June 11 at a $1.78 trillion valuation, then opened around $150 on June 12 and closed its first day at $160.95 after heavy institutional and retail demand. The stock later rose another 11% to $178 on Monday and was the most bought stock by retail investors for a second straight session, with about $100 million in net buying.