Key Takeaways Following the initial lockup period expiration, SpaceX shares jumped 16% on Friday as anticipated insider selling pressure never emerged Monday’s premarket session saw shares ga
During Monday’s premarket trading session, SpaceX (SPCX) shares reached $137.09, representing a 3.1% increase and building upon Friday’s impressive 16% rally that followed the uneventful passage of the initial lockup expiration deadline.
Space Exploration Technologies Corp., SPCX
Market participants had anticipated significant selling activity on Thursday when approximately 911 million restricted insider shares became eligible for trading. However, the expected selling pressure failed to materialize. This development caught short sellers unprepared, while institutional investors who had maintained a cautious stance seized the opportunity to acquire shares at lower prices.
Prior to the lockup expiration, SpaceX’s freely trading float represented merely 5% of total shares. With the float now increased to more than 1.5 billion shares, institutional investors can establish substantial positions without creating the severe price volatility that characterized the stock’s initial trading weeks.
Despite the recent positive movement, the stock has experienced challenging performance since its June 12 initial public offering. Shares reached a closing peak of $192.58 on June 15, merely three days following the listing, before declining approximately 30% through Friday’s close.
On Monday, Citi confirmed its $200 price objective while elevating its revenue expectations for 2026 and 2027, estimating approximately $1 trillion in revenue by 2031. SpaceX management has indicated plans to achieve this milestone by 2030, one year ahead of Citi’s projection.
Citi analysts expressed “greater confidence in management’s vision than consensus.” This represents a substantial endorsement considering the stock’s recent price fluctuations.
On August 4, SpaceX disclosed its second quarter financial performance. Revenue totaled $7.81 billion, marking a 91.9% increase compared to the corresponding period in the previous year. The adjusted loss of $0.09 per share outperformed the consensus forecast of $0.26.
Capital expenditure levels continue to draw attention. During the quarter, SpaceX invested $18.4 billion in capital expenditures, predominantly allocated to AI infrastructure development, with company guidance indicating this heightened spending pace will persist.
SpaceX and Tesla revealed a collaborative $16.8 billion commitment to construct Terafab, a semiconductor manufacturing facility in Grimes County, Texas. This installation will focus on producing proprietary AI chips for Tesla’s robotics division and SpaceX’s orbital computing infrastructure.
Elon Musk additionally indicated that Starship may have overcome a significant technical challenge that could enhance launch cost-effectiveness moving forward.
Among Wall Street analysts, 3 assign SPCX a Strong Buy rating, 25 recommend Buy, 9 suggest Hold, and 2 advise Sell. The consensus price target stands at $229.71.
The subsequent lockup expiration is scheduled for August 20, which will release an additional 7% of restricted shares currently held by employees and pre-IPO investors.
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