SpaceX · Donald Trump · Elon Musk · Google · Cursor · CNBC Technology
SpaceX stock climbs to highest since June, returning Musk to trillionaire status
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SpaceX shares rose almost 8% on Monday, reaching their highest since mid-June, shortly after Elon Musk's company held its record initial public offering.
Key facts
- They recommend buying the stock and have a $300 price target, representing an increase of about 75% from Monday's $171.09 close
- SpaceX went public on June 12, and jumped to a record close of $201.80 on June 16
- According to Forbes' real-time billionaires list, Musk is currently worth $1.03 trillion, factoring in his holdings in Tesla and SpaceX
- SpaceX shares rose almost 8% on Monday, reaching their highest since mid-June, shortly after Elon Musk's company held its record initial public offering
Summary
The jump followed a Sunday note from Morgan Stanley analysts, who called SpaceX "cheap" at today's prices, and highlighted "future AI product releases, Starship progress, and additional neocloud contracts. Late last week SpaceX conducted multiple historic flights in a single day, including sending a crewed mission for NASA to the International Space Station, and a separate launch of Google AI chips into orbit. The Morgan Stanley analysts suggested investors buy SpaceX shares before the company's next planned test flight for its massive Starship rocket, and ahead of its third-quarter earnings report expected in late October. Starship is SpaceX's next-generation spacecraft, the largest rocket ever built, and is designed to be fully reusable with both its upper stage and booster able to land safely back on Earth.