Up 26%, SpaceX Briefly Breaks Above IPO Price. Fundamental Turnaround or Short Squeeze?
The rally added more than $327 billion in market value as analysts kept bullish ratings and the first lockup expiration lifted trading supply.
- On Monday, Space Exploration Technologies Corp shares neared the $135 initial public offering price, rebounding after falling below that level last month.
- Thursday's expiration of the first major lockup released approximately 911.5 million shares; strong demand from retail buyers and short-covering absorbed the supply instead of triggering expected selling pressure.
- Last week's second-quarter revenue of $7.81 billion beat analyst expectations, though capital expenditures of $15.8 billion for artificial intelligence infrastructure divided Wall Street on valuation.
- Argus Research upgraded the stock to "buy" last Friday, while nearly 80% of analysts maintain bullish ratings; however, Wolfe Research cautioned against "misunderstanding aspirations of mgmt from most likely outcomes."
- Shareholders are betting on 10-year tailwinds as investors weigh successful Starship milestones against elevated capital spending, with long-term AI infrastructure potential central to justifying the company's current valuation.
19 Articles
19 Articles
SpaceX Stock Falls Below $135 IPO Price Again as Rally Reverses
SpaceX shares fell below their initial public offering price again on Tuesday, surrendering the recovery achieved one trading session earlier. The Nasdaq-listed stock (SPCX) declined approximately 5.2% to around $131.50 at the time of reporting, compared with Monday’s closing price of $138.74.Visit Website
SpaceX’s Earnings Show Elon Wiped Out Two-Thirds Of Twitter’s Ad Business
When SpaceX filed for its IPO, we went through the S-1 to point out just how far off the mark Elon Musk’s predictions about his Twitter takeover turned out to be. Indeed, the failure of Twitter as a business was so catastrophic, Musk had to hide it by merging all his Xs together: he had […]
Up 26%, SpaceX Briefly Breaks Above IPO Price. Fundamental Turnaround or Short Squeeze?
The post Up 26%, SpaceX Briefly Breaks Above IPO Price. Fundamental Turnaround or Short Squeeze? appeared first on 24/7 Wall St.. Mega IPOs have a well-documented habit of disappointing early investors. Data from Jay Ritter at the University of Florida shows newly public companies typically underperform the broader market by double digits in their first year of trading. SpaceX‘s (NASDAQ:SPCX) debut has followed that script almost to the letter —…
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