The Kobeissi Letter, June 16 -- Elon Musk's SpaceX has yet again stunned Wall Street, achieving another milestone, with its valuation soaring to levels few companies in history have ever approached.

According to market commentary shared by The Kobeissi Letter, the aerospace giant is now trading above $220 per share in overnight trading, pushing its valuation to nearly $2.9 trillion and placing it within striking distance of Microsoft, one of the world's most valuable companies.

"SpaceX is now trading above $220/share in overnight trading. This makes SpaceX worth nearly $2.9 TRILLION, less than $100 billion away from surpassing Microsoft," The Kobeissi Letter said in a post on X.

The recent rally has also dramatically boosted the combin...