SpaceX Becomes More Valuable Than Amazon & Pizza Hut Sold For $2.7B

SpaceX has become the fifth-largest company in the world by market capitalization, surpassing Amazon, after its IPO sent the stock up 49% in its first days of trading. Meanwhile, Pizza Hut has been sold to private equity for $2.7 billion after years of declining sales. And frozen yogurt is making a comeback, driven by Gen Z and social media. These are the major stories from this episode of Morning Brew Daily, which also covers Kansas City’s bet on the World Cup, Snap’s new $2,195 AR glasses, and McDonald’s bringing back fried apple pies.

SpaceX’s Market Cap Blasts Past Amazon

Last Friday, SpaceX pulled off what the hosts call “the biggest IPO in history.” Since then, the stock has climbed another 5%, giving the company a market cap of $2.65 trillion and making it the fifth most valuable company in the U.S., ahead of Amazon. The company brought in only $18.7 billion in revenue in 2025 — a fraction of Microsoft’s $281.7 billion or Amazon’s $717 billion. Kyle Haggerty notes this gap tends to “get people very worked up,” but argues the valuation is “a bet on Elon’s ability to drive the stock even higher” and on the future of space becoming more important. Retail investors have piled in at extraordinary levels: SpaceX stock buying was 533% above the second most traded stock on the platform Public, and retail investors bought almost as much SpaceX over the last two trading sessi