SpaceX Stock Snaps Losing Streak on Bullish Analyst Call, Starship Launch Update

Space Exploration Technologies Corp. (SPCX) shares rallied 4.4% on Tuesday to close at $125.12, snapping a seven-session losing streak after a confluence of positive catalysts renewed investor confidence.

Analyst Cites AI Infrastructure Potential

The primary driver for the rally was a note from Macquarie, which reaffirmed its Outperform rating and a $250 price target on the stock. The firm advised investors to view the recent selloff as a buying opportunity, framing SpaceX as a "premier AI infrastructure asset," according to the note cited by Investing.com.

Macquarie highlighted Anthropic's agreement to use all compute capacity at SpaceX's Colossus 1 data center as early validation of this strategy. The deal reportedly secures approximately 300 megawatts of power and over 220,000 Nvidia GPUs for the AI company.

Key Operational Dates in Focus

Adding to the positive sentiment, SpaceX provided clarity on two key upcoming events. The company announced it is targeting July 23 for its thirteenth Starship test flight, a mission analysts have flagged as critical for its long-term launch capacity and the expansion of its Starlink satellite internet constellation.

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Furthermore, SpaceX confirmed it will hold its maiden quarterly earnings report on August 4. This marks a significant step for the company, promising to provide investors with a new level of financial transparency.

Market Context and Headwinds

The stock's rebound occurred within a broadly supportive market environment, with the Nasdaq Composite rising 1.4% and the S&P 500 gaining 0.9%. The bounce from a recent 52-week low of $119.68 may also have been amplified by a short-covering dynamic, as short interest across the broader market has reportedly reached record highs.

Despite the day's gains, investors are watching a potential headwind in the form of a looming lock-up expiration in August. The expiration could release up to 911.5 million shares held by insiders, potentially creating selling pressure on the stock.