Movement Alert｜SpaceX Rises 3.08% in Pre-Market Trading, Rebounding as Analysts Raise Targets and Ark Invest Adds Shares After 13.6% Selloff-To The Moon - Tiger Brokers Online Investing Community

Movement Alert｜SpaceX Rises 3.08% in Pre-Market Trading, Rebounding as Analysts Raise Targets and Ark Invest Adds Shares After 13.6% Selloff

Market Focus08-06 16:27

On August 6, SpaceX rose 3.08% in pre-market trading, trading at $111.24/share with turnover of $1.223 billion, rebounding from the prior session's 13.6% plunge following its inaugural quarterly earnings report.

The recovery comes as multiple Wall Street firms expressed bullish long-term views despite near-term concerns. JPMorgan raised its price target from $225 to $240, citing AI cloud contract momentum and expectations for annualized recurring revenue to surpass $100 billion by December. Ark Invest purchased approximately $19.7 million in SpaceX shares during the selloff. UBS highlighted broad outperformance driven by AI cloud services, while Oppenheimer noted the $47.5 billion backlog provides strong revenue visibility.

Retail investors also provided notable support, with Vanda Research data showing $22.7 million in net purchases during the prior session's opening hour alone — the third-highest on record since IPO. The stock remains under pressure from $184 billion in Q2 capital expenditures and approximately 911.5 million shares set for lockup expiration, but dip-buying sentiment appears to be partially offsetting these headwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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Comments

a4xrbj1
08-06 19:13
a4xrbj1
Ah, sounds like Mr. Musk "fixer" made a couple of phone calls and now the banks that were deeply involved in the IPO are coming to help him. Hmh, doing what they do best, giving wrong advice to their customer, only the best advice for their own good. People, turn your own brain on and stop listening to Wall Street analysts, banks that are deeply involved with money lending to Musk's empire and personal life. Stop listening to your favorite stock pumpers, Wall Street Bets etc. - do your own research! Grab a spreadsheet, build your own models for a companies future that you want to invest in (get help from AI in building it out and then apply human checks).