SpaceX (SPCX) shares surged 5.07% during intraday trading on Thursday, rebounding from a prolonged downturn as a major U.S. Space Force contract award and positive customer signals injected fresh momentum into the stock.
The rally was primarily fueled by the announcement that SpaceX secured a $1.6 billion contract to execute 18 Falcon 9 launch missions for the U.S. Space Force, with all launches expected to be completed by the end of 2027. The contract falls under the National Security Space Launch Phase 3 Lane 1 program and reinforces SpaceX's dominant position in national security launch services, providing strong near-term revenue visibility ahead of its August 4 earnings report.
Additional positive sentiment came from SES CEO Adel Al-Saleh, who expressed strong eagerness to become a customer of SpaceX's Starship during a conference call. Meanwhile, Cathie Wood's Ark Invest continued to accumulate SpaceX shares, adding an estimated $14.5 million worth of stock across multiple ETFs, signaling institutional confidence despite the stock's recent decline of over 50% from its June high.
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