U.S. equity futures edged higher Tuesday, lifted by growing optimism over a potential U.S.-Iran agreement that sent crude prices lower. The broader market's cautious advance, however, was overshadowed by a blistering rally in SpaceX shares.
SpaceX stock rose for a third consecutive session, fueled by what analysts described as a retail-buying frenzy, according to Yahoo Finance. If premarket gains hold, the company could see a more than 50% jump over its first three trading days, Bloomberg reported.
The move reflects pent-up demand among individual investors for access to the defense and space contractor. The rally comes despite SpaceX's limited public float and relatively thin liquidity, which can amplify price swings.
Market participants now watch for any official confirmation of a U.S.-Iran accord, which would likely further depress oil prices and ease inflation concerns. For SpaceX, sustaining this momentum will depend on whether institutional buyers join the retail wave.
Some analysts caution the retail-driven spike may be unsustainable, given the stock's elevated valuation relative to peers. The frenzy echoes similar episodes in heavily shorted or highly anticipated listings, which often reverse sharply.