SpaceX Stock Reclaims $135 IPO Price After Nearly 26% Three-Day Rebound

SpaceX shares climbed back above their $135 IPO price on Monday, with the stock trading at $139.05 in premarket, up 4.31% on the day and roughly 26% over three sessions. The rebound follows a post-IPO slide that had pushed SPCX below its offering price despite SpaceX having raised a record $75 billion in June at a $1.77 trillion valuation. The recovery was driven in part by the company's first quarterly earnings report as a public company, in which SpaceX posted revenue of $7.8 billion for Q2, nearly double the same quarter a year earlier, beating expectations.

The company also reported a net loss of $541 million as it continued heavy spending on Starlink infrastructure. Adding to the recovery catalyst, a major lock-up expiry allowed 911 million shares to begin trading, and rather than pressuring the stock, the event was absorbed with shares rising roughly 3%. Argus upgraded SPCX to Buy ahead of the move, citing confidence in the company's return on AI investments.