SpaceX Surges 57%, Nears Amazon's Market Cap After Strong IPO Rally

SpaceX Stock Is Up Over 57% From Its IPO Price

SpaceX went public at $135. As of June 16, 2026, the stock is trading around $211.80 to $212.50, up more than 57% from that opening price.

That puts SpaceX's market cap near $2.8 trillion. Amazon currently sits at about $2.66 trillion. SPCX is close to overtaking it.

The tokenized version of SpaceX stock (xStock) on crypto platforms has also moved sharply. It was up 24.16% in 24 hours to $212.52, while the broader crypto market was only up about 1.75%.

What Does the SPCX Chart Say Right Now?

Looking at the 30-minute candlestick chart, the price action tells a clear story.

From June 13 through most of June 15, the price was flat. It ranged between roughly $165 and $170 with low volume. The EMAs were all bunched together, a sign that the price was just waiting for a trigger.

Then, on June 15 to 16, the price broke out hard. It ran from around $170 all the way up to a high of $228, then pulled back slightly to the current $211.80 level.

Where Are the EMAs Sitting After the Breakout?

The chart shows four EMAs: 20, 50, 100, and 200. Right now they are:

• EMA 20: 209.97

• EMA 50: 198.61

• EMA 100: 187.61

Price is sitting just above the EMA 20 at $211.80. This is a key zone. If price holds above 209.97, it is still in bullish territory.

A dip below the EMA 20 could bring a test of the EMA 50 at $198.61. That would be a roughly 6% pullback from current levels.

What Is the RSI Showing for SpaceX?

The RSI (14) is currently at 56.93 on the 30-minute chart.

That number is not overbought. RSI above 70 is overbought territory. At 56.93, there is still room to move higher without the indicator flashing red.

Earlier in the session, RSI spiked when the price broke out. It has since cooled down, which often signals consolidation rather than reversal.

Is the SPCX Rally Based on Fundamentals or Speculation?

This is the honest part of the article.

SpaceX reported $18.67 billion in sales last year. It also posted a net loss of $4.94 billion after merging with xAI. The company is not profitable.

At a $2.8 trillion valuation, SPCX is priced like a profitable tech giant. One senior analyst at Swissquote Bank put it bluntly: people are buying SpaceX expecting others to keep buying. That is speculative behavior.

That does not mean the price cannot go higher. But it does mean the fundamentals alone are not driving this.

Why Could SpaceX Stock Keep Rising?

There are real catalysts at play.

SpaceX is expected to be fast-tracked into the Nasdaq 100. Once that happens, passive funds and ETFs that track the index will be forced to buy shares. That is an automatic demand.

Options trading on SPCX is also set to begin as soon as Tuesday. Early activity is expected to be heavy and volatile. Options can amplify both upside and downside moves.

The short squeeze narrative is also real on the crypto xStock side. A large portion of the 24-hour move was driven by derivatives liquidations.

What Is the Price Target for SpaceX in the Short Term?

Based on the chart, here are the key levels to watch:

Resistance: The recent high at $228 is the first real wall. If the price can close above that on volume, the next psychological target is $250.

Support: EMA 20 at $209.97 is immediate support. Below that, $198.61 (EMA 50) is the next line. A clean bounce off either would be a positive sign.

Bearish scenario: If SpaceX drops below $185 (near EMA 100), the short-term trend weakens significantly.

The RSI at 56.93 suggests no immediate exhaustion. But price is in a high-volatility zone post-breakout. Chasing at current levels carries risk.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency and tokenized stock assets are highly volatile and carry significant risk. Past performance is not indicative of future results. Always do your own research and consult a licensed financial advisor before making investment decisions.