SpaceX shares (ticker SPCX) returned above the initial public offering (IPO) price on premarket trading on Monday, reaching $136.20. This happened for the first time since August 4, when quotes dropped below the level of $135 after the publication of financial results for the second quarter of 2026. Despite the fact that on the day of the debut on June 12, 2025, the shares opened at $150 and reached a maximum of $225.64, the subsequent sale lowered them to $108.27. The recent 22.8% weekly increase was supported by an upgrade to "Buy" from Argus Research with a target price of $160, as well as confirmation of the "Actively Buy" rating from Raymond James amid success in testing the Starship spacecraft.

The key drivers of the recovery were the successful market digestion of the unblocking of insider shares and the announcement of the construction of the Terafab semiconductor complex in Texas with Tesla, which could reach $119 billion in investments. Concerns about the massive sale of 911.5 million shares that became available on August 6 did not materialize: only about 54.6% of the unlocked package changed hands, while the quotes continued to grow. Retail investors increasingly perceive SpaceX not just as an aerospace company, but as a transformational story in the field of artificial intelligence. Although the company's revenue grew 92% to $7,814 billion and Starlink's base reached 12 million subscribers, a sharp jump in AI capital expenditures to $15.83 billion in the quarter had previously raised concerns among investors focused on short-term cash flow.

Despite overcoming the psychological mark of the IPO price, the high volatility of the paper is likely to remain. Analysts warn that the phased unblocking of additional tranches of shares, scheduled until December 8, will maintain price instability. The coming week brings both opportunities and risks for SPCX: the publication of the quarterly reports of Rocket Lab and AST SpaceMobile on August 11 may affect sentiment in the sector. In addition, the upcoming macroeconomic data on inflation in the United States will be a key test for highly multiplier technology stocks, which currently include SpaceX, whose valuation is still in the process of finding a point of equilibrium.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.