Overnight price spike sees SpaceX overtake Amazon as America’s fifth-largest company

SpaceX has surpassed Amazon to become the fifth-largest company in the United States following a 60% surge in share price since its listing. This rapid ascent was driven by a small free float, retail speculation, positive global market newsflow, and forced passive buying. The surge underscores shifting tech dominance and the increasing influence of space ventures on global markets, marking a significant milestone for the company following its IPO performance and rapid market growth.