SpaceX overtakes Amazon, Microsoft to briefly become world's 4th largest company

SpaceX shares surged more than 16% on Tuesday, lifting the company's market capitalisation above Amazon and briefly past Microsoft, making it the world's fourth-largest company. However, by 8 pm IST, the Elon Musk-led firm had pared some gains and slipped to fifth place. SpaceX conducted the world's biggest IPO last week, raising $85.7 billion.