Space Exploration Technologies Corp., traded under the ticker SPCX, delivered a notable rebound on Wednesday, closing at $118.24, marking a solid 2.59% gain or $2.98 per share from the previous close. The performance comes as the aerospace giant, widely known as SpaceX, continues to navigate the choppy waters of public trading following its much-anticipated initial public offering earlier this year.
Market participants watched closely as shares opened near $115.21 and climbed steadily throughout the session, reaching an intraday high of approximately $118.55. Volume was robust, with more than 75 million shares changing hands, reflecting heightened investor interest in the Elon Musk-led company. However, the after-hours session told a more cautious tale, with the stock slipping to around $116.00 , down nearly 1.9% in extended trading. A recent last-trade print captured the ticker at roughly $117.88 .
This uptick follows a period of pressure on SPCX shares. The stock has retreated significantly from its post-IPO highs near $225 , recently testing lows around $110.85. Analysts point to a combination of factors: broader market volatility, lockup expiration concerns that could unleash billions in additional shares, and shifting sentiment around ambitious projects such as Starship launches and Starlink expansion. Despite the pullback, long-term bulls remain vocal. Cathie Wood of ARK Invest has repeatedly championed SpaceX as potentially one of the most transformative companies in history, with price targets implying substantial upside in the coming years.
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