Key Highlights

  • SpaceX shares are trading up 11.39% today, near $128.01, after closing at $114.92 previously
  • Argus Research upgraded the stock to Buy with a $160 price target
  • Morgan Stanley reiterated an Overweight rating and $300 price target
  • The rally follows a decline of as much as 52% from the stock's post-IPO peak
  • The move comes after a post-IPO lockup expiration doubled the tradable float

What Happened

SpaceX (NASDAQ:SPCX) shares are trading up 11.39% today, near $128.01. SpaceX is a leading aerospace and defense company that designs, manufactures, and launches advanced rockets and spacecraft, including the Falcon 9, Falcon Heavy, and Dragon, alongside its Starlink satellite constellation delivering high-speed broadband internet.

The rally follows a historic post-IPO lockup expiration and a volatile post-earnings selloff that had pushed shares down as much as 52% from their post-IPO peak, driven by concerns over $18.4 billion in quarterly AI-related capital expenditures and the doubling of the tradable float from a 911.5 million share lockup release.

Analysts Turn Bullish

Argus Research upgraded the stock to Buy with a $160 price target, while Morgan Stanley's Adam Jonas reiterated an Overweight rating and $300 price target, calling SpaceX a potential generational compounder whose AI, launch, and Starlink businesses justify the premium valuation despite heavy capital spending. Bulls are now citing options positioning and technical stabilization as signs the stock may have found a bottom.

Conclusion

SpaceX's 11.39% gain today reflects a sharp rebound in investor sentiment following the post-IPO lockup expiration, supported by bullish analyst commentary on the company's AI, launch, and Starlink businesses.

This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research or consult a financial professional before making investment decisions.