Key Insights
- SpaceX (SPCX) stock price closed at $134.27 on Friday, up 8.62% before the weekend market close.
- Alphabet added 3.85 million shares, while its stake value fell by $10.44 billion from June.
- Musk projected 70% quarterly sales growth, implying roughly $24.82 billion using rounded Q3 revenue.
SpaceX stock closed around 9% higher on Friday, Nov. 6, as Alphabet disclosed a larger stake in the company. The rebound followed Elon Musk’s forecast for rapid revenue growth in the fourth quarter.
Alphabet reported 555.04 million shares worth $83.73 billion at September’s end in a newly released SEC filing. Its share count increased from June, while the position’s reported value fell by about $10.44 billion. The shares also remained lower over the week despite Friday’s rally, following sharp losses after the U.S. midterm elections.
Alphabet Expands SpaceX Stock Stake as Reported Value Falls
Alphabet, Google’s parent company, added 3,854,060 shares during the third quarter, taking its position to 555,043,560 shares. That compares with 551,189,500 shares reported on June 30, an increase of about 0.7%.
The SpaceX stock holding was valued at $83.73 billion, down from $94.18 billion in the previous report. It was the largest disclosed position, accounting for 94.78% of the $88.35 billion portfolio. That percentage measures the securities listed in this Form 13F.
The filing values those holdings at September 30 market prices. Its November 6 release gives investors a dated snapshot of the portfolio. The larger share count partly offset the impact of a lower stock price.
Google executive Donald Harrison stepped down from SpaceX’s board on November 4 after more than a decade of service. The company announced his departure on November 6 and thanked him for his contribution.
Elon Musk Projects Sharp Revenue Growth for Fourth Quarter
Elon Musk outlined fresh sales forecasts as SpaceX stock rebounded Friday. He projected roughly 70% revenue growth in the fourth quarter from the previous three months. Applying that pace to the rounded $14.6 billion base implies sales of approximately $24.82 billion.
Third-quarter revenue rose 161% from a year earlier to $14.6 billion. Net income reached $4.4 billion, reversing a $1.1 billion loss. Adjusted EBITDA increased 306% to $8.8 billion.
AI operations now supply more than half of group revenue. The Super Intelligence segment generated $7.56 billion in third-quarter sales, up from $813 million a year earlier.
Musk also said an annualized revenue pace above $500 billion by December 2027 was likely. He described the projection as his best guess. That figure refers to the annual sales pace reached at that point.
Deutsche Bank maintained its Buy rating and $250 target, according to Investing.com. Its analysts pointed to contracts with federal agencies, including NASA and Space Force, when assessing political risks. The analysts argued that funding cuts could hurt U.S. interests, given the limited alternatives for those services.
SpaceX Stock Rebound Leaves Weekly and Monthly Losses
SpaceX stock, traded on Nasdaq as SPCX, closed Friday at $134.27, up 8.62%. That was a $10.65 gain from Thursday’s $123.62 close. The prior session had delivered a 9.05% decline. Friday’s recovery brought the price close to Wednesday’s $135.92 finish.
SpaceX stock’s weekly return remained negative. Comparing Friday’s close with the October 30 close of $134.72 shows a decline of about 0.33%. Over the month from October 6, when shares closed at $171.92, the stock fell about 21.90%.
The share price climbed through Tuesday, then fell on both Wednesday and Thursday. Friday’s rebound recovered most of Thursday’s dollar decline. It still left the stock below Tuesday’s $141.31 close.
The daily RSI stood at 42, below its signal line, and the Awesome Oscillator remained negative. A sustained move above $135 would put $155 in focus. A renewed decline could return attention to $120, with $108 as the next support.
