SpaceX stock jumps on Cathie Wood and analyst backing, launch plans

Space Exploration Technologies Corp stock rose 5.6% in morning trading on Wednesday as the company moved closer to its next major launch milestone.

The stock climbed to $150.10 following a Tuesday evening post from Cathie Wood, founder of Ark Investment Management, on social media platform X.com. Wood stated, "Each Starship launch could generate $1 billion in revenue. Elon is aiming for 10,000 flights per year, or $10 trillion in Starship revenues, by 2030. If SpaceX achieves this goal, its $1.75 trillion IPO will be considered, in hindsight, a deep value opportunity!"

The session high reached $152.03, marking the stock's strongest intraday level in several weeks. Shares closed Tuesday at $143.49 and remain below their 52-week peak of $225.64.

Morgan Stanley analyst Adam Jonas maintained his Overweight rating and $300 price target on SPCX.O from the previous session. Jonas argued the market has priced in Starlink and the core aerospace business, but the enterprise AI and orbital computing opportunity within SpaceX's business model remains largely absent from current valuation.

SpaceX announced that Starship's 14th test flight, its first true orbital mission, is scheduled for September 22. The mission plans to deploy the first batch of Starlink V3 satellites across approximately six orbits.

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