Stock Track | SpaceX Soars 6.49% in Pre-Market as Analyst Upgrades and Ark Invest Buying Fuel Rebound After Selloff

SpaceX (SPCX) shares surged 6.49% in pre-market trading on Thursday, staging a sharp rebound from the prior session’s steep decline. The stock had tumbled 13.6% on Wednesday after the company’s first post-IPO earnings report revealed larger-than-expected capital expenditures on artificial intelligence, sparking concerns over near-term profitability. The pre-market rally signals renewed investor optimism as several bullish catalysts emerged.

The recovery was fueled by a wave of positive analyst commentary. JPMorgan raised its price target on SpaceX from $225 to $240, citing strong momentum in AI cloud contracts and a path to $100 billion in annualized recurring revenue by December. UBS and Oppenheimer also highlighted the company’s robust backlog and AI-driven outperformance. Meanwhile, Cathie Wood’s Ark Invest capitalized on the selloff, purchasing approximately $19.7 million worth of SpaceX shares across multiple ETFs, a move that underscored long-term conviction in the company’s vision.

Retail investors also stepped in aggressively, with data showing $22.7 million in net purchases during the first hour of Wednesday’s trading alone. Additionally, the expiration of a lockup period on up to 911.5 million shares was largely seen as priced in, and some analysts noted that the stock’s decline below its $135 IPO price could actually limit the number of shares eligible for sale, easing potential selling pressure and contributing to the pre-market bounce.