Key Stats for SpaceX Stock
- Price change for SpaceX stock in last 5 days: -12%
- $SPCX Stock Price as of Jul. 13: $139
- 52-Week High: $226
- $SPCX Stock Price Target: $242
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What Happened?
SpaceX (SPCX) stock hit another all-time low on Monday, falling nearly 4% and dropping below $140. That puts shares uncomfortably close to the company’s original $135 IPO price. It’s a rough turn for a stock that once traded as high as $225 just weeks ago.
The drop comes despite good news. The Federal Aviation Administration closed an investigation that had been holding things up, clearing SpaceX to run a flight test as early as this week. Normally that kind of regulatory green light would lift a stock. Instead, SpaceX stock kept sliding.
SpaceX debuted on June 12 to huge investor excitement, with shares jumping from their $135 offer price to a first-day close of $160.95. The following week, shares spiked to $225, briefly making SpaceX worth more than Amazon and Microsoft combined.
Much of that early enthusiasm was tied to AI, since SpaceX had acquired Elon Musk’s AI startup xAI, now called SpaceXAI, and had begun leasing data center capacity to tech companies.
But the reality of SpaceX’s core business, building and launching rockets plus running the Starlink satellite network, seems to be catching up with the stock.
- When Starlink cut prices in Memphis, Tennessee amid local data center concerns, shares fell 8% in a single day.
- When SpaceX joined the Nasdaq-100 on July 7, it fell 4.4% even as the broader index dropped only 1.7%.
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What the Market Is Telling Us About SpaceX Stock
Wall Street remains split on where SpaceX stock goes from here. Morgan Stanley has a $300 price target. BofA Securities just initiated coverage with a Buy rating and a $235 target.
BofA’s bull case leans heavily on falling launch costs, from roughly $10,000 to $20,000 per kilogram before Falcon 9, down to about $2,000 with Falcon 9, and potentially $50 to $100 per kilogram if Starship becomes fully reusable.
Still, some analysts see the recent run as more hype than fundamentals.
- CFRA’s Keith Snyder said the stock “started to look a lot like a meme stock” and expects it to fall further, toward $115.
- SpaceX made $18 billion in revenue last year, far short of Musk’s projected $1 trillion by 2030.
The next real test comes soon. A Starship flight test is slated for July 16, though BofA doesn’t expect a major reusability milestone from that specific flight.
After that, all eyes turn to SpaceX’s first public earnings report, expected in early August, which should give investors a clearer read on whether SpaceX stock’s current weakness is a buying opportunity or a warning sign.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
