Shares of Elon Musk's SpaceX rose more than 10% in premarket trading on Tuesday, continuing a rally that began with its market debut last week. The stock, which surged more than 19% on Monday, reached $211.8, giving the company a market capitalization of nearly $2.8 trillion.
This growth has pushed SpaceX to a valuation higher than Amazon, which was last valued at $2.66 trillion, placing it among the world's top five most valuable listed companies. Since shares started trading on Friday, the company's valuation has increased by $1 trillion.
Market activity for the rocket maker has been exceptionally high. As of 4:14 a.m. ET, more than $1.16 billion worth of shares had exchanged hands, a volume that exceeded those of Nvidia, Microsoft, Tesla, and Apple combined. The rally could continue as SpaceX is set for fast-track inclusion in the Nasdaq 100.
The financial surge has also significantly impacted Elon Musk's wealth. Due to the stock's performance, Musk has made more money today than Warren Buffett has made in his entire career.