SpaceX stock is back in the spotlight this week. Shares of Space Exploration Technologies Corp, trading under the ticker SPCX on the Nasdaq, sit near $138 after a research note from JPMorgan
SpaceX stock is back in the spotlight this week. Shares of Space Exploration Technologies Corp, trading under the ticker SPCX on the Nasdaq, sit near $138 after a research note from JPMorgan kept its bullish call intact.
The bank repeated its Overweight rating and $240 price target on SPCX stock, pointing to growing confidence in the company's Grok AI push. That target sits far above where shares trade today, so traders are asking whether the SPCX share price can actually close that gap.
This piece walks through what is driving the move, what the chart says, and what could happen next. None of this is a promise of future price action.
Two stories are pushing SpaceX stock right now. The first is JPMorgan's renewed bullish note. The second is a huge new rocket project in Louisiana.
JPMorgan analyst Doug Anmuth said the bank is more confident in Grok's future after SPCX shares closed its buyout of Cursor, an AI coding platform, on August 14. JPMorgan estimates Cursor brings in roughly $4 billion in yearly recurring revenue, with about three-quarters of that coming from business clients.
The bank sees Cursor doing two things for SpaceX. It gives the company a direct sales channel into enterprise software buyers. It also hands Grok fresh coding data that could sharpen the model's performance.
Separately, SpaceX said it will build a new launch site called Starbase, Louisiana. The company plans to break ground in 2027, with a first Starship flight targeted for 2029. SpaceX says the site is meant to support thousands of Starship missions a year, covering Earth orbit, Moon, and Mars flights.
SpaceX stock has faced a string of lockup expirations since its Nasdaq debut, and each one adds fresh shares that early holders can sell.
An August 6 unlock freed up as many as 911.5 million shares. Many traders braced for heavy selling, but that wave did not fully show up in the price at the time.
A second event on August 20 released about 319 million more shares. SPCX still managed to climb 14.09% to $131.06 in the session that followed, as worries about the lockup eased. Argus responded by giving the stock a Buy rating with a $160 target, a more cautious number than JPMorgan's $240 call.
JPMorgan expects a third wave around September 9 and 10, covering roughly 370 million shares. That could grow the public float by close to 20%, though this round is smaller than the combined August releases.
An unlock does not force selling. Shareholders can hold their stakes even once their shares become eligible for trading. Still, more available supply is something the market tends to watch closely, since it can weigh on price if a large slice of holders decide to sell at once, and how the September event actually plays out won't be clear until trading opens.
What does the SpaceX stock chart show right now?On the hourly chart, SPCX is trading above its 20, 50, and 200 EMAs, which points to a market that leans slightly bullish in the short term. The 20 and 50 EMAs sit close together near $137, and that zone has acted as a support area recently.
The 14-period RSI sits near 52.86 on close, with its moving average around 50.82. That is a neutral reading, sitting right around the midpoint, and it does not show the stock as overbought or oversold at current levels.
Level
Price
What it means
Resistance 2
$148–$150
Next target if $140 breaks
Resistance 1
$144
First upside target
Breakout trigger
$139–$140
Needs a clean close above
Support (EMA cluster)
$135–$137
20/50 EMA zone
Downside risk
$133–$130
If EMA cluster fails
If SPCX holds above the $135–$137 zone and pushes past $139–$140, the next stops on the upside could be $144, then $148–$150. A clean break above $140 would give the bulls a stronger signal.
On the other side, a drop below the EMA cluster near $136 could open the door toward $133, and then $130 if selling picks up.
Is SpaceX stock a buy right now?Analyst views are mixed on timing, even where the long-term outlook is positive. JPMorgan's $240 target implies large upside from current levels, and Argus has set a more modest $160 target with a Buy rating.
Retail sentiment on Stocktwits leaned bearish over the past day, based on available data, even as some individual traders posted bullish targets for SpaceX stock reaching $250 by the end of 2026. These are personal opinions, not confirmed forecasts, and should be treated that way.
SpaceX stock also carries risks unique to a newly public company. The stock only started trading in mid-2026, so it has a short track record on Nasdaq. Repeated lockup unlocks add supply pressure, and the company's AI segment, built around Grok and Cursor, is still an early bet rather than a proven revenue driver.
SpaceX Stock Price Prediction: Final ThoughtsSPCX stock is holding up reasonably well given the wave of share unlocks it has absorbed since its listing. The chart shows a market sitting just above short-term support, with $140 as the level that could open a path toward $144–$150.
The bigger picture depends on execution. If Grok and Cursor start showing up in SpaceX's actual financial results, the bullish case gets easier to defend. If the September unlock brings heavy selling, or AI progress stalls, shares could retest the $130–$133 zone instead.
Nothing here should be read as a guarantee. SPCX remains a young, volatile stock, and short-term swings around unlock dates are likely to continue.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Past performance and analyst price targets are not guarantees of future results. Always do your own research and consult a licensed financial advisor before making investment decisions.
