NEW YORK, June 17, 2026, 07:05 EDT – SpaceX shares continued their upward momentum in premarket trading Wednesday, climbing 3.2% after a 4.8% surge on Tuesday that pushed the stock to $201.80. The Elon Musk-led company’s market capitalization now stands at approximately $2.655 trillion, surpassing Amazon by roughly $10 billion.
Record Options Activity Fuels Rally
Tuesday’s session saw extraordinary options volume, with about 1.8 million contracts traded, far exceeding the launch of Meta Platforms options in 2012. Call options outpaced puts by a 1.3-to-1 ratio, indicating strong bullish sentiment. “We’ve never seen anything like it,” said Henry Schwartz, vice president of derivatives market intelligence at Cboe Global Markets. Seth Hickle, chief investment officer at Mindset Wealth Management, added, “Early option volume indicates another SpaceX success.”
Billion All-Stock Deal for Anysphere
SpaceX announced on June 16 that it has entered into a definitive agreement to acquire Anysphere, the parent company of AI coding tool Cursor, in an all-stock transaction valued at $60 billion. The deal is expected to close in the third quarter, subject to regulatory approvals. This move deepens SpaceX’s presence in the AI coding tools space, a segment that has seen significant investment. “Cursor does not have the scale of OpenAI or Anthropic, but it has built some very impressive coding models relative to cost. That makes this a positive move for SpaceX,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
Index Inclusion on the Horizon
SpaceX is set for rapid inclusion in major stock indices. Reuters reports that the company is on track for a fast-track entry into the Nasdaq 100, with both FTSE Russell and MSCI expected to add the stock on June 26 and June 29, respectively. This will likely trigger mandatory buying from passive funds and ETFs that track these indices, providing further upward pressure on the stock.
Market Context and Sentiment
Market sentiment was mixed early Wednesday, with S&P 500 and Nasdaq futures ticking up ahead of the Federal Reserve’s 2 p.m. ET rate decision. Traders expect the Fed to hold rates at 3.50%-3.75%. On Tuesday, the Nasdaq and S&P 500 declined under tech pressure, while the Dow Jones Industrial Average closed at a record high.
Financial Background and Risks
Despite its soaring valuation, SpaceX reported $18.67 billion in revenue last year but posted a net loss of $4.94 billion after its merger with xAI. This contrasts sharply with profitable mega-cap tech peers. The company’s thin public float, heavy options trading, and lofty valuation have raised concerns about potential volatility. “It certainly feels like one of those meme stocks, the way it’s trading,” said Joe Saluzzi, co-head of equity trading at Themis Trading.
Looking Ahead
With the Cursor deal, index inclusion, and record options activity, SpaceX remains a focal point for traders. However, the combination of high volatility, a small float, and a significant net loss suggests that the stock could experience sharp moves in either direction. Investors will be watching closely as the company integrates its new acquisition and navigates the broader market landscape.
