Top Reasons Why SpaceX Stock Rebounds Today, SPCX Price to $170?

Key Insights:

• ARK Invest adds 210,121 SPCX shares as SpaceX stock rebounded from a selloff.
• Susquehanna set a $170 target while projecting strong revenue growth through 2028.
• SpaceX drew $89B in bond demand as investors assessed its funding strategy.

SpaceX stock moved higher on Tuesday after several days of declines, as new buying activity from ARK Invest and fresh Wall Street coverage drew attention back to the company.

The SPCX price rebound follows a three-session selloff that pushed the stock from more than $211 shortly after its public debut to near $155.

While the recent decline erased a large portion of its post-IPO gains, investors continued to assess new developments surrounding the company’s financing plans, institutional demand, and long-term revenue projections.

The SPCX shares traded around $156 after falling to approximately $147 earlier in the session. Despite the recent weakness, SpaceX remains valued at around $2.02 trillion. The stock also remains about 31% below its 52-week high of $225.64.

SpaceX Stock Gains Support From ARK Invest Purchase

One factor that backed the recovery in SpaceX stock was a new purchase by Cathie Wood’s ARK Invest. According to the firm’s daily trading disclosures, ARK acquired an additional 210,121 shares of SpaceX on June 22.

The largest purchase came through the ARK Innovation ETF (ARKK), which added 131,837 shares. Additional purchases appeared across the ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), and ARK Space Exploration & Innovation ETF (ARKX).

The transaction came as ARK adjusted positions across several funds. The firm increased exposure to Roblox and SpaceX while reducing holdings in Roku. ARKG also reduced its position in Twist Bioscience and added shares of Alamar Biosciences.

The purchases arrived during a period of high volatility for SPCX stock. The stock has lost nearly 25% of its value over the past three trading sessions, making ARK’s decision one of the highly watched institutional moves following the IPO.

SpaceX Stock Receives $170 Price Target

Another development impacting sentiment was the initiation of analyst coverage by Susquehanna. The firm began coverage of SpaceX stock with a Neutral rating and a $170 price target.

Susquehanna projected annual revenue growth of 81% and annual EBITDA growth of 76% through 2028. The firm highlighted the lanch services of Starlink, and artificial intelligence initiatives as a key contributors to future revenue expansion.

At the same time, analysts pointed to several risks. These included possible Starship delays, increasing competition for Starlink, and uncertainty surrounding future AI-related revenue streams.

Bond Demand Adds Another Factor to SPCX Stock Price Recovery

Investors also focused on strong demand for SpaceX’s first investment-grade bond offering. According to reports, the company attracted approximately $89 billion in orders while seeking to raise between $20 billion and $25 billion.

Demand exceeded four times the proposed offering size at the lower end of the fundraising range. In addition, reports indicated that pricing discussions tightened on the longest-dated bond due in 2056 as investor interest increased.

SpaceX plans to use the proceeds to refinance a bridge loan and support corporate operations. Major financial institutions managing the offering include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley.

The bond sale follows the blockbuster SpaceX IPO, which raised more than $86 billion. The company also recently announced a $60 billion all-stock acquisition of AI coding startup Cursor.