18 mins ago – 4.24AMSpaceX jumps 16pc in second day of tradingBloombergSpaceX shares jumped in their second day of trading, adding to gains following a blockbuster debut that instantly vaulted it into the ranks of the world’s most valuable public companies.The stock climbed as much as 16 per cent, extending Friday’s 19 per cent rally, to add almost $US340 billion ($480 billion) in market value. The move boosts the company’s market value to more than $US2.4 trillion, putting it among the top six largest companies in the world. At its current market capitalisation, it’s less than $US220 billion away from overtaking Amazon which boasts a nearly $US2.7 trillion value.SpaceX has continued its strong showing after its blockbuster IPO. BloombergSpaceX has exercised the IPO’s over-allotment option, which lets underwriters sell an additional 83.3 million shares, according to a statement Monday. The so-called greenshoe increases the amount raised to $US86.2 billion, or $US85.7 billion after subtracting the $US500 million of underwriting expenses listed in the prospectus.A solid first-day performance for SpaceX assuaged fears about the market’s ability to absorb such a large IPO, helping pave the way for the potential IPOs from Anthropic and OpenAI, large competitors that could go public as soon as this year. It helped bolster confidence in the artificial intelligence rally that’s driven most of the market’s gains this year.“We’re not surprised to see that there’s initial demand,” said Max Gokhman, senior vice president at Franklin Templeton Investment Solutions. “There’s been so many investors, especially retail investors on the sidelines, who couldn’t get access.”