SpaceX Soars 32% in August as Lock-Up Fears Fade and Big Tech Discloses Stakes
SPCX sits 37% above its 52-week low of $104.83 on light trading volume (0.3× avg).
Summary
SpaceX closed August at $143.49, up 32% from its early-August lows near $108, adding roughly $450-500 billion in market value. The rally was fueled by a surprisingly smooth first post-IPO lock-up expiry on Aug 6, which freed 911 million shares (~7% of shares outstanding) and was followed by a 35% five-session surge. Q2 revenue of $7.81 billion (up 92% YoY) beat estimates, and Argus Research upgraded the stock to Buy with a $160 target. NVIDIA's disclosure of a 122.8 million-share (~$21B) stake, along with positions from Alphabet, Harvard, and AMD, added AI-infrastructure credibility. Morgan Stanley reiterated Overweight with a $300 target on Aug 26, citing the $100B Louisiana spaceport plan. However, the stock trades at ~66x sales, and upcoming lock-up expiries (319M shares on Aug 20, ~700M monthly through October) could test the rally. Wall Street's average price target is $226, implying further upside if supply is absorbed.
At the time of this announcement, SPCX was trading at $143.20 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.