SpaceX Tops $200 Amid Bubble Concerns and Meme-Stock Warnings

SpaceX shares extended their post-IPO rally, closing above $200 and briefly surpassing Amazon and Microsoft to become the sixth-most valuable U.S. company. The surge lifted Elon Musk’s net worth above $1.2 trillion, making him the world’s first trillionaire. After pricing its record IPO at $135 on June 12 and jumping 19% on debut, SpaceX has risen nearly 50% in less than a week, triggering comparisons to meme-stock behavior and sparking concerns over tech valuation bubbles. Tesla shares initially dipped on rotation selling before recovering modestly and remain down nearly 10% year-to-date.