SpaceX (NASDAQ:SPCX) Shares Down 5.4% - Here's Why

Key Points

• SpaceX shares fell 5.4% on Friday, trading as low as $122.12 after closing at $131.11, with volume coming in below the recent average.
• The decline followed Starship Flight 13 being aborted moments before liftoff due to engine ignition issues, heightening concerns about execution risk and investor confidence.
• Despite the weakness, some observers remain upbeat because SpaceX is reportedly in talks to provide computing power for the Pentagon’s AI push, while analysts still see long-term upside from its AI, Starlink, and launch businesses.

SpaceX (NASDAQ:SPCX - Get Free Report) shares fell 5.4% during mid-day trading on Friday . The stock traded as low as $122.12 and last traded at $123.99. Approximately 83,019,215 shares were traded during trading, a decline of 30% from the average session volume of 118,312,156 shares. The stock had previously closed at $131.11.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is reportedly in talks to provide computing power for the Pentagon’s AI push, a deal that could be worth several billion dollars and would strengthen the company’s emerging AI/infrastructure narrative. SpaceX in Talks to Provide Computing Power for Pentagon's AI Push
• Positive Sentiment: Some analysts and investors still view the pullback as a buying opportunity, arguing SpaceX’s AI, Starlink, and launch businesses could support longer-term growth if execution improves. Why SpaceX Stock Dropped on Friday
• Neutral Sentiment: Wall Street commentary remains mixed, with some firms maintaining neutral or hold-type views even as they acknowledge SpaceX’s long-term potential. SpaceX Stock Price Forecast — What Technical Analysis Says Right Now (July 17, 2026)
• Negative Sentiment: SpaceX’s Starship Flight 13 was aborted moments before liftoff because of engine ignition issues, renewing concerns about execution risk and weighing on investor confidence. SpaceX Starship rocket aborts before liftoff in 13th flight test attempt
• Negative Sentiment: The failed launch added to an already sharp post-IPO selloff, with shares falling below the $135 IPO price and hitting new lows as bearish sentiment and short interest increased. Short sellers rack up $8.7 bln profit as SpaceX slips below IPO price -Ortex
• Negative Sentiment: Several reports also highlighted that short sellers are piling in, with roughly 29% of the tradable float reportedly sold short, reinforcing downward pressure on SPCX. Short sellers load up against SpaceX as stock retreats back to IPO price

Analyst Upgrades and Downgrades

SPCX has been the topic of several recent research reports. William Blair started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They issued an "outperform" rating on the stock. Morgan Stanley set a $225.00 price target on SpaceX in a research note on Thursday. Sanford C. Bernstein began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set an "outperform" rating and a $239.00 price objective on the stock. Argus assumed coverage on shares of SpaceX in a report on Friday, June 26th. They issued a "hold" rating for the company. Finally, Wolfe Research started coverage on shares of SpaceX in a research report on Friday, June 12th. They issued an "outperform" rating and a $175.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $234.78.

SpaceX Price Performance

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The firm had revenue of $4.69 billion during the quarter.

Institutional Investors Weigh In On SpaceX

Institutional investors and hedge funds have recently bought and sold shares of the business. Beacon Investment Advisory Services Inc. acquired a new position in shares of SpaceX in the 2nd quarter worth approximately $174,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of SpaceX during the second quarter worth $120,000. Teamwork Financial Advisors LLC acquired a new stake in shares of SpaceX during the second quarter worth $8,027,000. Cooper Financial Group purchased a new stake in shares of SpaceX during the second quarter valued at $950,000. Finally, Ebert Capital Management Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at $647,000.

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.

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