Shares of Elon Musk’s SpaceX rose more ​than 10% in premarket ‌trading on Tuesday, putting the company on course to ​overtake Amazon.com in ​market value to become the ⁠world’s fifth‑largest company, ​as it extended a post-IPO rally.

The stock, which surged more than 19% on Monday, was ​last up 10.1% at $211.8, ​giving the company a market ‌capitalisation ⁠of nearly $2.8 trillion if gains hold. Amazon was last valued at $2.66 trillion.

More than $1.16 ​billion worth ​of ⁠SpaceX shares exchanged hands as of ​04:14 am ET, ​which ⁠was several times the trading volumes in Nvidia, ⁠Microsoft, ​Tesla and Apple combined.