The August 4 SpaceX (NASDAQ: SPCX) quarterly earnings report proved a turning point for SPCX stock as the equity entered a rally that took it to $138.50 by press time in the Monday pre-market.
The shares are popping again after snapping a 4-week losing streak.
SpaceX stock (NASDAQ: SPCX) is entering the week with a different tone after Cathie Wood's ARK Invest bought post-earnings weakness just as one of the stock's biggest technical overhangs began to ease. ARK bought 114,815 SpaceX shares through the ARK Innovation ETF on August 7, worth about $13.2 million.
SpaceX (NASDAQ: SPCX) could rally more than 125% from current levels and reach a record high of $300 per share, according to a new forecast from Morgan Stanley's Adam Jonas.
SpaceX's $300 billion swing in market value this past week put Musk back in grind mode, having to execute on highflying promises made in the lead-up to the biggest IPO ever.
SpaceX (SPCX) inaugural earnings call following its blockbuster debut on Nasdaq sent “seismic” ripples across Wall Street. While investors digested the aerospace giant's eye-popping $15.8 billion artificial intelligence (AI) capital expenditure outlay and its bold operational roadmaps, Elon Musk made it clear where that capital is flowing.
Buying the dip in SpaceX (NASDAQ: SPCX) on the day Elon Musk lost his trillionaire status has yet to pay off, with the stock still trading below its June 23 level despite a recent rally.
SpaceX is rated a sell, as its $1.43 trillion equity value bakes in highly optimistic outcomes across Connectivity, Space, and AI segments. Starlink drives profitability, but declining ARPU and limited scale mean it cannot alone justify SpaceX's current valuation without extraordinary AI or space success. AI and Space segments are deeply unprofitable and capital-intensive, with AI contracts short in duration versus long-lived infrastructure commitments, raising risk.
The AI story most investors have been watching is about chips. Our macro investment expert Eric Fry thinks the next chapter is about memory.
Shares of SpaceX are climbing, poised to lock down a powerful weekly performance.
SpaceX says Starlink could provide 'better service' than AT&T, Verizon, and T-Mobile by next year. That might be easier said than done, an analyst who studied the telecom industry for decades says.
Sometimes stocks come under pressure once insiders are able to unload shares, but in the case of SpaceX. that risk may have been already priced in.