TLDR
- SpaceX stock gained 22% in five trading days despite 911.5 million shares becoming eligible for sale.
- Strong second-quarter revenue of $7.81 billion helped support investor sentiment after earnings exceeded Wall Street estimates.
- SpaceX trading volume increased sharply following earnings, reaching about 255 million shares on August 6.
- Weaker July employment data reduced expectations for further Federal Reserve rate increases during the September meeting.
- SpaceX stock faces resistance near $135, while a sustained breakout could put the $150 level into focus.
SpaceX stock price rose 15% on August 7 to close at $133, extending its five-day gain to about 22% despite 911.5 million shares becoming eligible for sale. The move came after the stock touched a recent low near $106 on August 6, when the newly unlocked shares became available.
The rally has brought SpaceX shares close to the reported IPO price of $135. The recent move has also placed the stock among the strongest performers in the group of the 10 largest companies by market value during the week.
Q2 Earnings Support SpaceX Stock Price
SpaceX reported second-quarter 2026 revenue of $7.81 billion, compared with the $6.9 billion expected by Wall Street estimates. The reported revenue was also up from $4.1 billion in the second quarter of 2025, marking a 92% increase year over year.
The earnings report was followed by changes in analyst views on the stock. Argus raised its rating from “hold” to “buy” and set a $160 price target. Morgan Stanley also maintained a $300 target after reviewing the latest earnings figures.
The stronger revenue growth has provided support for the SpaceX stock price as investors assess the company’s recent financial performance alongside the newly available shares.
Trading Volume Rises After Share Unlock
Trading activity in SpaceX stock increased sharply after the earnings report and the share unlock. Market analyst Nic Cruz said trading volumes were three to four times higher than levels recorded before the earnings announcement.
About 144 million shares changed hands on August 4, the day of the earnings release. Trading volume then reached about 255 million shares on August 6 as the stock moved through the share-unlock period.
Cruz said investors had expected selling by insiders and employees after the shares became eligible for sale, but trading activity developed differently. The higher volume has accompanied the recovery from the August 6 low.
Fed Outlook Adds Support to Broader Market
US employment data released on August 7 showed that nonfarm payrolls fell by 23,000 in July 2026, compared with the 80,000 increase expected by Wall Street. The weaker employment figures have reduced expectations for further Federal Reserve rate increases.
The Fed rate prediction market showed a 66% probability that policymakers would leave rates unchanged at the September FOMC meeting. The shift in rate expectations came as SpaceX stock gained 15% during the session.
Technical indicators also point to stronger short-term momentum. The stock has formed a rounded-bottom pattern on the one-hour chart, while its relative strength index reached 72.
The $135 level remains the next price point to watch. A sustained move above that level could open the way toward $150. If the stock fails to hold above $135, the price could return toward the August 6 low near $105.
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