New Delhi:Shares of Elon Musk-backed space and satellite company SpaceX continued their remarkable post-listing rally, with the stock trading above $220 in overnight trading and pushing the company’s market capitalisation close to tech giant Microsoft, a market commentary platform said on Tuesday.

In a post on X, The Kobeissi Letter said SpaceX is now valued at less than $100 billion below Microsoft, while the stock has gained about 63 per cent from its IPO price of $135 per share since its market debut on June 12. The rally has propelled the combined market capitalisation of SpaceX and Tesla to a record $4.4 trillion, exceeding Apple’s market value and approaching that of Google, according to the platform.