Just three trading days after its record IPO, SpaceX has leapfrogged Amazon to become the world's fifth most valuable listed company, with its shares briefly carrying it past Microsoft during a frenetic Tuesday session.

SpaceX completed the largest IPO in history, raising $75 billion and reaching a $2.5 trillion valuation to become the sixth largest US public company.

If SpaceX’s premarket surge holds, it would become the world’s fifth most valuable company behind only Nvidia, Google, Apple and Microsoft.

Elon Musk's SpaceX is experiencing a significant surge in its stock value. Shares rose over 10% in premarket trading on Tuesday. This rally puts SpaceX on track to surpass…

The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalisation of nearly $2.8 trillion if gains hold.