Futures tied to Elon Musk's newly-listed behemoth Space Exploration Technologies Corp. surged 10.4% to indicate another rally on Tuesday.
The stock was touched $212.9 for the first time since its listing during pre-market trade, after closing 19.60% higher at $192.50 on Monday. Post its previous session's closing, the scrip added $412 billion in market value.
At its current market capitalisation, it's less than $135 billion away from overtaking Amazon.com Inc., which boasts a nearly $2.7 trillion value. The listing propelled Elon Musk to become the first-ever trillionaire in history.
SpaceX landed on the New York Stock Exchange's Nasdaq index with a 11% premium at $150 per share on Friday. The company officially priced its IPO at $135 per share, raising $75 billion in the largest public offering in stock market history.
ALSO READ: SpaceX Surges for Second Day to Add $412 Billion in Value
On the listing day itself shares soared as high as 30% to $175 as the IPO received a strong response from investors, with demand crossing $350 billion, including $250 billion orders placed by institutional buyers — resulting in a four-time subscription.
Elon Musk expects SpaceX to generate roughly $1 trillion in annual revenue by 2030, well ahead of even Wall Street's bullish projections for his rocket-and-AI conglomerate.
ALSO READ: Elon Musk Bets SpaceX Will Hit $1 Trillion In Revenue By 2030, Triple Morgan Stanley's Own Forecast
Responding on X to a Morgan Stanley revenue forecast, Musk said SpaceX "might be able to reach approximately $1 trillion revenue in 2030," adding that he would be "surprised" if revenue did not exceed $1 trillion in 2031.
The company, alongside electric vehicle maker Tesla, forms the backbone of what market observers often describe as the "Muskonomy" — a network of businesses driven by Musk's vision and influence.
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