SPCX stock has staged a sharp comeback after its post-earnings selloff, with SpaceX shares surging 15% in the latest session and moving back toward the $135 IPO price. The rebound comes after investors absorbed a major earnings spending shock and the release of roughly 911 million shares from the IPO lockup. With the stock now recovering from the $105-$110 zone and momentum turning higher, the focus is shifting to whether buyers can push SPCX stock through $135 and extend the recovery.
SpaceX Earnings Give SPCX Stock a Fresh Catalyst
SpaceX’s first public quarterly results gave investors a stronger fundamental backdrop for the rebound. Second-quarter revenue reached $7.8 billion, up 92% year over year, while adjusted EBITDA climbed to roughly $3.5 billion. The numbers highlight the growth of SpaceX’s core businesses, particularly Starlink, while its AI ambitions are creating another potential growth engine.
But the earnings report also exposed the scale of SpaceX’s investment cycle. The company spent about $18.4 billion on capital expenditures in Q2, including roughly $15.8 billion tied to AI infrastructure. That spending initially triggered the stock’s reversal as investors weighed rapid growth against near-term cash requirements. The latest price action suggests that investors are now placing greater weight on the growth opportunity than the immediate spending burden.
911 Million Shares Unlocked—and SPCX Stock Still Rallied
The biggest test for SPCX stock came from the first major post-IPO lockup expiration. About 911.5 million shares became eligible for sale, a supply increase large enough to raise concerns about a wave of insider and early-investor selling. The figure was also substantially larger than SpaceX’s IPO float of roughly 556 million shares.
Yet the expected supply shock did not produce a fresh collapse. Instead, shares rallied sharply after the unlock, suggesting that much of the risk had already been reflected in the stock’s decline toward its recent lows. That is an important shift in sentiment: investors were given a major increase in potential supply, but buyers absorbed it rather than allowing the stock to break lower.
SPCX Stock Price Analysis: Double Bottom Sets Up $135 Breakout
The SPCX stock chart shows a clear reversal attempt after the post-earnings selloff. Shares first dropped toward the $105-$110 area, where buyers stepped in aggressively. The subsequent recovery created a double-bottom structure, with the two lows forming a base around the same support zone.
Yesterday’s 15% surge provided the confirmation that the second low had attracted stronger demand. The move pushed shares back through the $118-$120 area and sharply improved the short-term structure, turning the recent selloff into a potential accumulation phase rather than a continuation of the downtrend.
The next major test is $135, which is both the IPO price and the immediate resistance visible on the chart. A decisive breakout above $135 would complete the double-bottom pattern and give the setup a measured upside objective toward roughly $155-$160. Above that, the $170-$175 region becomes the next major supply zone.
The setup remains vulnerable if buyers fail to defend the breakout. $118-$120 is now the first support, while a move back below that zone would weaken the reversal and expose the $105-$110 double-bottom base again.
Final Words
The recovery has put SPCX stock at an important inflection point. The fundamental backdrop offers a tailwind through strong revenue growth and SpaceX’s expanding Starlink and AI businesses, while the post-unlock rally suggests the market absorbed the 911.5 million shares that became eligible for sale without a fresh breakdown.
That leaves $135 as the clearest near-term test. A sustained move above it would turn the recent rebound into a confirmed bullish breakout and bring $155-$160 into view. Failure to clear $135 could instead produce another consolidation phase, with $118-$120 becoming the key level separating continued recovery from a retest of the recent lows.
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