SynopsisIn a striking twist of the markets, SpaceX shares have rocketed up by over 14 percent this Tuesday, propelling the company's valuation beyond that of Microsoft and landing it in the top five most valuable corporations globally. The trading volume is off the charts, eclipsing its tech counterparts.ReutersShares of Elon Musk's SpaceX climbed more than 14% on Tuesday, lifting its valuation past Amazon. com and briefly above Microsoft to rank it among the top-five most valuable companies within days of a blockbuster debut.Shares of the rockets-to-AI company were last up 14.3% at $220, jumping more than 62% above the $135 IPO price and giving the company a market capitalization of around $2.85 ‌trillion if gains hold. ⁠The stock ⁠gave the biggest boost to the Nasdaq Composite index.Amazon's valuation stands at $2.64 trillion. SpaceX also briefly topped Microsoft's valuation of $2.92 trillion. The world's top three ​companies, meanwhile, exceed $4 trillion in market value.SpaceX options also began trading, offering investors another avenue to bet on the future of ​the newly listed shares."Today the SPCX options launch, offering standard monthly expiration and strikes ranging from $25 to $380. If call demand is heavy, dealers might be forced to buy SPCX into this low-liquidity situation," said Brent Kochuba, founder of option analytics ​platform SpotGamma."Starting next week we may see index demand increase, with more shares ⁠not slated ‌to be made available for 1-2 months."Analysts and portfolio managers said investors should ​brace for volatility, particularly ​early on in SpaceX's life as a public company, due to its relatively small float ⁠and high valuation."We can say with certainty that this valuation makes absolutely no ​sense today. People are buying SpaceX in the expectation that others will buy too ​and push the price higher - that's speculation," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank.The company reported sales of $18.67 billion last year and a net loss of $4.94 billion after merging with money-losing xAI -- in contrast to many of Wall Street's big technology companies that have posted bumper numbers.The rally could continue as SpaceX is set for fast-track inclusion in the Nasdaq 100, which will soon make it a major holding for passive funds and ETFs that track ‌the index, creating a fresh source of demand for its shares.FTSE Russell and MSCI are also set to add the stock to their indexes, effective June 26 and June 29, respectively."While ​index inclusion alone ​is typically insufficient to drive sustained ⁠repricing, we see the combination of passive flows, momentum, and limited float driving upside beyond historical index-addition moves," brokerage Zephirin Group said, initiating coverage on the stock with a "buy" rating. SpaceX also said on Monday that its underwriters had ​exercised the "greenshoe" option to purchase additional shares, increasing the total proceeds from its initial public offering to $85.7 billion from $75 billion that it raised last week.More than $23.1 billion worth of SpaceX shares exchanged hands as of 10:07 a.m. ET, which was several times the trading volumes in Nvidia, Microsoft, Tesla and Apple combined.Other heavyweight technology stocks, including Nvidia and Microsoft, were trading slightly lower.Earlier in the day, SpaceX also said it would acquire software company Anysphere for $60 billion.Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless(You can now subscribe to our ETMarkets WhatsApp channel)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless