SpaceX shares soar again to a market capitalization of nearly 2.75 trillion dollars

Following a historic initial public offering last week that made its inventor and CEO, Elon Musk, the first trillionaire in history, SpaceX shares surged more than 10% early on Tuesday after jumping almost 20% on their first full day of trading on Monday.

During Tuesday’s pre-market trading, SpaceX’s stock price increased to $212.40, up roughly 10.35% from Monday’s closing.

The rocket company’s valuation might reach $2.75 trillion if the pre-market spike continues. On Monday, its market capitalization exceeded $2.5 trillion.

Currently ranked as the sixth most valuable business in the world, SpaceX has the potential to overtake Amazon and approach Microsoft’s market capitalization if the pre-market rally continues after the opening bell.

On Monday, shares of Tesla, Musk’s other significant publicly traded business, increased 1.16% to $411.15, increasing the market valuation of the electric vehicle manufacturer to about $1.3 trillion. But in pre-market trade on Tuesday, the company’s shares dropped 1.63%.