Nasdaq Rebalance Could Trigger $15.5B Passive Buying

SPCX closed at $153.455 on September 8, 2026, up 3.72% from the prior close of $147.95.

Executive Summary

SPCX advanced sharply on September 8, closing at $153.455, a gain of 3.72% from the prior session's close of $147.95. The rally coincided with a wave of sell-side attention: Pivotal Research initiated coverage with a Buy rating and a $220 price target, framing its bull case around Starship reuse economics, while Wells Fargo reaffirmed an Overweight rating and set a $212 target (down from a prior level, per the headline). Separately, Benzinga reported that JPMorgan flagged a potential Nasdaq-100 rebalance that could force roughly $15.5 billion in passive buying of SpaceX shares as its index weight rises. Not all coverage was bullish: a Motley Fool piece on billionaire David Tepper's Q2 stock purchases noted his fund added SpaceX and CoreWeave but described SpaceX's price-to-sales ratio of 69.1x as leaving limited margin for error.

Trading volume of 78,625,582 shares came in well above the prior session's 49,162,207 shares, even as it registered below the stock's running average to date of 83,571,625 (the Volume vs avg indicator reads 0.71). The session produced a wide range and a close near the day's high, consistent with the flow of bullish analyst headlines.

News

1. Federal Communications Commission Proposing To Open More Wireless Spectrum That Can Be Used For Faster Broadband Service From Space

(Benzinga, Sep 8, 2:45 PM ET)

2. 9 Communication Services Stocks With Whale Alerts In Today’s Session

This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders often (Benzinga, Sep 8, 1:35 PM ET)

3. Intel Jumps 10% as Analyst Says Musk’s Terafab Could Give Foundry Much-Needed Scale

Intel jumped 7% after Northland upgraded the stock, saying Musk’s Terafab could give its loss-making foundry business much-needed scale. (Benzinga, Sep 8, 1:08 PM ET)

4. Is Alphabet Stock Undervalued?

Alphabet's P/E ratio of 17x appears undervalued compared to the S&P 500's 25x, but this is misleading due to one-time investment gains from SpaceX holdings artificially boosting earnings. Using alternative valuation metrics like operating profit and operating cash flow, Alphabet trades at average to above-average historical levels. The stock is a reasonable investment but not a compelling buying opportunity like it was in April 2025. (The Motley Fool, Sep 8, 12:06 PM ET)

5. SpaceX Bull Case 'Rests Almost Entirely' on Starship Reuse. Analyst Says Buy Anyway

Pivotal Research rates SpaceX a Buy with a $220 target, hinging on Starship's reusability. (Benzinga, Sep 8, 11:00 AM ET)

6. SpaceX Could Draw $15.5B in Passive Buying as Nasdaq Rebalance Looms

JPMorgan says a Nasdaq-100 rebalance could force about $15.5 billion of passive SpaceX buying as its index weight rises. (Benzinga, Sep 8, 9:51 AM ET)

7. Wells Fargo Maintains Overweight on SpaceX, Lowers Price Target to $212

(Benzinga, Sep 8, 8:39 AM ET)

8. Billionaire David Tepper Just Bought These 2 Artificial Intelligence (AI) Stocks That Wall Street Thinks Could Soar by 50% or More

Billionaire David Tepper's hedge fund Appaloosa Management added SpaceX and CoreWeave to its portfolio in Q2, betting on their AI growth potential. While Wall Street sees 50-62% upside for both stocks, SpaceX appears overvalued at a P/S ratio of 69.1 with limited margin for error, whereas CoreWeave's P/S ratio of 5.8 seems more reasonable given its 112.5% revenue growth and $104 billion revenue backlog. (The Motley Fool, Sep 8, 8:30 AM ET)

Price Action

Metric	Value
Open	$149.045
High	$155.00
Low	$145.14
Close	$153.455
Change vs prior close	+$5.505 (+3.72%)
Volume	78,625,582
Intraday range	$9.86 ($145.14 – $155.00)
Close vs IPO offer price ($135.00)	+$18.455 (+13.67%)

SPCX opened at $149.045, dipped to a session low of $145.14 early on, then reversed to a high of $155.00 before settling at $153.455. The close sits 3.72% above the prior close of $147.95 and 13.67% above the $135.00 IPO offer price, though it remains below the first-day close of $160.95. Volume of 78,625,582 shares was well above the prior session's 49,162,207 but still below the stock's running average of 83,571,625 to date.

The session's takeaway: a wide-range, high-volume advance that reclaimed ground lost over the prior week, with buyers stepping in on the early dip and holding the gain into the close.

Technicals

SPCX has been trading for under three months since its June 12, 2026 IPO, so the standard 14-day RSI and 20/50/200-day moving averages carry less statistical weight than they would for a seasoned issue — the 200-day SMA is not yet available (insufficient history), and the shorter-window readings below should be read as directional context rather than settled signals. Technicals here lean on price structure, candle shape, volume, and the concrete levels in the data.

Trend

The close of $153.455 sits above the SMA-5 ($146.82), EMA-5 ($148.06), SMA-10 ($143.77), SMA-20 ($141.68), and SMA-50 ($135.99), a stacked short-to-intermediate structure consistent with an uptrend resuming after the stock's post-IPO decline from the $160.95 first-day close down toward the $108–$115 area in late July/early August. RSI-14 at 62.24 is elevated but not in classic overbought territory.

Candle read

The session produced a body of $4.41 (close above open), an upper wick of $1.54, and a lower wick of $3.91, on a total range of $9.86. The close-location value of 0.84 means the close finished 84% of the way up the day's range — near the high. The longer lower wick relative to the upper wick indicates the early dip toward $145.14 was bought, with sellers unable to push price back down after the high of $155.00 was reached; the small upper wick shows only modest fade off the top.

Support levels

• $147.95 — prior session's close
• $146.82 — SMA-5
• $145.14 — today's session low
• $143.77 — SMA-10
• $141.68 — SMA-20
• $135.99 — SMA-50
• $135.00 — IPO offer price

Resistance levels

• $155.00 — today's session high
• $160.95 — IPO-day close

Momentum interpretation

Bull scenario: a hold above $147.95 (prior close) and $146.82 (SMA-5) keeps the short-term uptrend intact; a push through today's $155.00 high opens a path toward the $160.95 IPO-day close.

Bear scenario: a close back below $145.14 (today's low) and $143.77 (SMA-10) would undercut the day's bullish structure and put the $141.68 SMA-20 and $135.99 SMA-50 back in play.

Neutral scenario: consolidation between $147.95 and $155.00 would reflect digestion of the day's analyst-driven gain without a clear directional resolution.

Trading Takeaway

SPCX posted a wide-range, above-average-volume advance of 3.72% on September 8, closing near the session high after buyers absorbed an early dip to $145.14. The move followed a cluster of bullish sell-side notes (Pivotal Research's Buy initiation with a $220 target, Wells Fargo's reaffirmed Overweight at $212, and reporting on a possible $15.5 billion Nasdaq-100 rebalance inflow), against a countervailing valuation caution from a Motley Fool piece citing a 69.1x price-to-sales ratio. Price remains above all available short- and intermediate-term moving averages but still sits below the $160.95 IPO-day close. For the next session, the key levels to watch are support at $147.95 (prior close) and $145.14 (today's low), and resistance at $155.00 (today's high) and $160.95 (IPO-day close).

Sources

1. Federal Communications Commission Proposing To Open More Wireless Spectrum That Can Be Used For Faster Broadband Service From Space — Benzinga
2. 9 Communication Services Stocks With Whale Alerts In Today's Session — Benzinga
3. Intel Jumps 10% as Analyst Says Musk's Terafab Could Give Foundry Much-Needed Scale — Benzinga
4. Is Alphabet Stock Undervalued? — The Motley Fool
5. SpaceX Bull Case 'Rests Almost Entirely' on Starship Reuse. Analyst Says Buy Anyway — Benzinga
6. SpaceX Could Draw $15.5B in Passive Buying as Nasdaq Rebalance Looms — Benzinga
7. Wells Fargo Maintains Overweight on SpaceX, Lowers Price Target to $212 — Benzinga
8. Billionaire David Tepper Just Bought These 2 Artificial Intelligence (AI) Stocks That Wall Street Thinks Could Soar by 50% or More — The Motley Fool
9. OpenAI, Anthropic Seek Investment-Grade Ratings Post Potential IPOs to Cut AI Borrowing Costs: Report — Benzinga
10. This SpaceX Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Tuesday — Benzinga
11. Why Is Oracle Stock Surging on Tuesday? — Benzinga
12. I've Covered Many IPOs for The Motley Fool. Here's What Most Investors Get Wrong. — The Motley Fool
13. Pivotal Research Initiates Coverage On SpaceX with Buy Rating, Announces Price Target of $220 — Benzinga
14. Elon Musk's Space Data Center Bet Faces a Reality Check — Experts Says It Could Be a 'Next-Decade Event' — Benzinga
15. Dogecoin to Beat Trump to the Lunar Surface? DOGE Says There's a 'Queue' After President Declares 'The Moon Is Ours' — Benzinga
16. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Market data and technical readings are subject to error, delay, or revision. Verify all figures independently before making any financial decision. SPCX has a limited trading history; short-window technical indicators may not yet be statistically meaningful.