SpaceX reclaims $135 IPO price in premarket trade Monday

Investing.com -- SpaceX shares are pointing to $136.20 in Monday premarket trade, up approximately 2.3% from Friday’s close. That puts the stock back above its $135 IPO price for the first time since slipping below that level after the August 4 earnings report. The stock priced at $135 on June 12, opened at $150 on debut day, and briefly touched an intraday high of $225.64 on June 16 before a prolonged sell-off drove shares as low as $108.27.

SPCX (NASDAQ: SPCX) closed Friday, August 7 at $133.11, capping a weekly gain of 22.8% from the $108.37 close on July 31. That Friday session alone delivered a 15.83% surge — the stock’s largest single-day advance since its June 12 debut.

Three catalysts converged to drive the recovery. Argus Research upgraded SPCX to Buy with a $160 price target, implying roughly 17% upside from the current premarket level. The feared wave of insider selling after 911.5 million shares became eligible for sale on August 6 largely failed to materialize: roughly 497 million shares changed hands across Thursday and Friday, about 54.6% of the unlocked block, yet the stock still gained 6% on Thursday despite the added supply. And on August 6, SpaceX and Tesla jointly announced their $16.8 billion "Terafab" semiconductor fabrication complex will be built in Grimes County, Texas, with total potential investment TechCrunch reported could reach $119 billion across multiple phases.

The Terafab plant is designed to produce 1 terawatt of compute per year and is expected to employ at least 3,000 people. It reinforced the narrative that has kept retail investors buying through the stock’s entire post-IPO journey. Vanda Research recorded a net $22.7 million of retail buying in the first hour of trading on the post-earnings sell-off day alone, more than three times the stock’s average opening-hour inflow. "Retail continue to see SPCX as a transformational AI story — as opposed to a space exploration or interplanetary travel stock," Vanda Research wrote in commentary cited by Yahoo Finance on August 7.

That AI story was also the root of the initial sell-off. SpaceX’s Q2 2026 results, reported August 4 revenue of $7.814 billion, up 92% year-on-year and ahead of Wall Street expectations, with Starlink reaching 12 million subscribers. But AI-related capital expenditure surged to $15.83 billion in the quarter, pushing total capex to $18.4 billion and rattling investors focused on near-term cash flow. On the earnings call, CEO Elon Musk told investors: "We’re building AI compute capacity at scale faster than anyone else, we believe, and we’re significantly improving our AI models."

Raymond James has separately reiterated a Strong Buy rating on SPCX, citing progress on Starship Flight 13, per Investing.com’s analyst ratings coverage. That gives the stock two bullish firm voices heading into Monday’s session.

Volatility is unlikely to fade even as shares clear the IPO price. "Even without heavy selling, the increase in available shares is likely to keep volatility elevated," said Carolane de Palmas, market analyst at ActivTrades, in comments reported by Reuters on August 6. Further lockup tranches are scheduled through December 8.

The week ahead brings both opportunity and risk. Rocket Lab (NASDAQ: RKLB) and AST SpaceMobile (NASDAQ: ASTS) are both scheduled to report Q2 2026 earnings after the market closes Monday, August 10. Results from those two space-sector peers could move sentiment on SPCX in the same session it attempts to consolidate above its IPO price. A U.S. inflation data release is also expected during the week of August 10, described by Reuters as the key macro test for equity markets. A hotter-than-expected print could weigh on high-multiple technology names at a moment when SPCX’s valuation is still finding its footing.

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