NEW YORK, August 9, 2026, 16:24 EDT — U.S. markets have shut for the weekend.
Space Exploration Technologies Corp. NASDAQ:SPCX finished Friday at $133.11, climbing 15.83%, with 242.1 million shares changing hands.
The increase came after SpaceX’s initial significant post-IPO lockup expiration. Nearly 911.5 million shares were unlocked for trading, in addition to the approximately 639 million shares already offered in the IPO.
This brought the pool of shares available for trading to roughly 1.55 billion. The rise amounted to 142.6%. Friday’s surge indicates that buyers took in the initial wave of new supply.
| Float milestone | Shares | Change |
|---|---|---|
| IPO shares | About 639 million | Initial allocation |
| August 6 unlock | 911.5 million | Becomes available |
| Combined eligible pool | About 1.55 billion | +142.6% |
| Potential float by December 8 | 40% of company | Could increase |
Recovery amid supply disruptions
The four-session sequence marks a rare rapid turnaround. SpaceX dropped sharply after earnings, rebounded during the unlock, and gained further momentum on Friday.
| Session | Close | Daily move | Volume |
|---|---|---|---|
| August 4 | $125.33 | up 9.43% | 144.13 million |
| August 5 | $108.27 | down 13.61% | 208.49 million |
| August 6 | $114.92 | gained 6.14% | 255.18 million |
| August 7 | $133.11 | jumped 15.83% | 242.13 million |
The stock ended Friday up 6.2% from its close prior to the results on Tuesday, and 22.9% above the record low reached on Wednesday. Shares recovered the earnings drop even with the bigger float.
Growth rose, yet spending remained elevated
Revenue for the second quarter climbed 91.9% to $7.81 billion. The operating loss decreased to $143 million from $970 million, and the net loss narrowed to $541 million.
| Q2 metric | 2026 | 2025 | Change |
|---|---|---|---|
| Revenue | $7.81 billion | $4.07 billion | up 91.9% |
| Operating loss | $143 million | $970 million | $827 million less |
| Net loss | $541 million | $1.01 billion | $467 million less |
Adjusted EBITDA increased by 191%, reaching $3.5 billion, up from $1.2 billion. CFO Bret Johnsen stated the quarter showed the “true power of SpaceX.” SEC
AI capital expenditure totaled $15.83 billion, up sharply from $749 million the previous year. The figure represents an increase of about 21 times compared to the same period a year earlier and is more than double the quarterly revenue.
Connectivity was still the biggest division. AI showed the highest growth, yet reported an operating loss of $1.26 billion on revenue of $2.56 billion.
| Q2 segment | 2026 revenue | 2025 revenue | Growth |
|---|---|---|---|
| Connectivity | $4.29 billion | $2.59 billion | up 65.8% |
| AI | $2.56 billion | $737 million | up 247.5% |
| Space | $962 million | $746 million | up 29.0% |
Analyst opinions continue to show rare divergence
Analyst ratings vary between Sell and Buy. The selection of price targets includes a low of $115 by CFRA and a high of $300 from Morgan Stanley.
| Broker | Recommendation | Price target | Latest listed action |
|---|---|---|---|
| Morgan Stanley | Buy | $300 | Reaffirmed July 24 |
| RBC Capital | Buy | $225 | Began coverage July 7 |
| MoffettNathanson | Hold | $131 | Began coverage July 7 |
| CFRA | Sell | $115 | Began coverage June 12 |
Risks: Friday’s surge does not conclude the supply challenge. Restrictions in place until December 8 could increase freely tradable shares to 40% of the company. If selling returns during subsequent unlock periods, it could undermine the absorption premise.
Maintaining $133.11 next week would support the rebound seen after the unlock. Dropping beneath Thursday’s close at $114.92 would reverse the two-day gains.
Related articles: NASDAQ:SPCX
