Why Does SpaceX Stock Keep Going Up?

SpaceX stock has risen on each of its first three trading days since the IPO. Investors cited SpaceX's plan to spend about $60 billion in stock to acquire Anysphere, owner of Cursor. Cursor was valued at $29.3 billion in its latest funding round, and SpaceX's merger with xAI valued Anysphere at about $250 billion.

Yahoo Finance estimates 246 million floating shares, versus as many as 13.2 billion outstanding. If lock-up periods expire, more shares could be tradable, potentially pressuring the price. The rally appears driven by SpaceX's AI ambitions and IPO momentum rather than traditional fundamentals.