SpaceX Rises 5% in Regular Trading, Boosted by $1.6 Billion US Space Force Contract Award

Market Focus07-30 21:47

On July 30, SpaceX rose 5% in regular trading. The stock rebounded from recent lows as a major defense contract injected fresh positive momentum.

On the news front, the US Space Force announced that SpaceX has been awarded a $1.6 billion contract to execute 18 Falcon 9 launch missions for deploying military guided satellites, with completion targeted by the end of 2027. The substantial government order reinforces SpaceX's dominant position in national security launch services and provides near-term revenue visibility ahead of its August 4 earnings report.

Additional positive signals emerged as SES CEO expressed strong interest in becoming a Starship customer, while SpaceX is reportedly seeking to acquire Terrestrial Spectrum, suggesting continued expansion of its communications infrastructure footprint. The stock has been under significant pressure since its June high of $225.64, with approximately $116 billion in insider shares set to unlock on August 6 and short interest exceeding $26 billion. Despite these headwinds, the contract win and strategic developments provided a catalyst for today's recovery from the $112.68 level seen the prior session.

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