SpaceX AI Push Draws JPMorgan Overweight and $240 Target

SPCX closed at $137.96, up 2.19% versus the prior close of $135.00, on volume of 46,840,186 shares.

Executive Summary

SPCX advanced Tuesday on a day dominated by dueling takes on the stock's valuation. Benzinga reported the shares moving higher after JPMorgan reiterated an Overweight rating with a $240 price target, citing progress on SpaceX's AI ambitions. That bullish framing sat alongside more skeptical coverage: the Motley Fool noted Ark Invest continues buying SPCX since the June IPO but flagged an analyst argument that the stock is overvalued above a $1.8 trillion valuation, pointing to Starlink's $4.3 billion in Q2 revenue and 38.6% operating margins against an AI division the piece said burned $25 billion in free cash flow in the first half of 2026. Separately, Benzinga covered hedge fund manager David Einhorn calling the SpaceX IPO the "meme-ification of the market." SpaceX also posted on X about a new Starbase, Louisiana launch site.

Against that mixed backdrop, price action was constructive but not decisive: the close of $137.96 came in below the session high of $139.75, and volume was light relative to the stock's average to date, suggesting the rally drew a below-average level of participation.

News

1. Cathie Wood Keeps Buying SpaceX Stock. Here's Why I Wouldn't Buy It Above a $1.8 Trillion Valuation.

While Cathie Wood's Ark Invest continues buying SpaceX stock since its June 2026 IPO, analyst Johnny Rice argues the company is overvalued at $1.8 trillion. Though Starlink shows strong performance with $4.3B Q2 revenue and 38.6% operating margins, SpaceX's AI division is burning cash with negative $25B free cash flow in H1 2026, consuming 90% of capital investments with uncertain returns. (The Motley Fool, Aug 25, 2:03 PM ET)

2. SpaceX Stock Is Moving Higher: What's Going On Today?

SpaceX stock is rising Tuesday. JPMorgan reiterated an Overweight and $240 price target, pointing to progress on SpaceX's AI ambitions. (Benzinga, Aug 25, 1:05 PM ET)

3. SpaceX Posts On X "Introducing Starbase, Louisiana – a high-cadence launch site that will enable Starship to open a pathway to the stars for humanity."

(Benzinga, Aug 25, 12:18 PM ET)

4. Einhorn Vs. Musk: Hedge Fund Manager Says SpaceX IPO Was ‘Meme-ification of the Market’

A hedge fund manager is critical of SpaceX and its high valuation. Here's what they had to say. (Benzinga, Aug 25, 12:02 PM ET)

5. 'Anthropic Expected to Tell Investors It Sees Over $30 Trillion in Potential Revenue' - WSJ Exclusive

(Benzinga, Aug 25, 12:02 PM ET)

6. OpenAI Uncovers a Covert Russian Influence Machine Using ChatGPT to Build Fake Expertise and Spread Pro-Moscow Narratives Across Social Media

OpenAI bans Russian ChatGPT accounts tied to a covert influence operation that used AI to spread misinformation and mask its origins. (Benzinga, Aug 25, 9:25 AM ET)

7. SpaceX's AI Push Comes Into Focus as JPMorgan Sees Nearly 80% Upside

Grok's functions—including its lack of safeguards—have received significant industry backlash. Still, JPMorgan remains bullish. (Benzinga, Aug 25, 8:04 AM ET)

8. Adam Schiff Slams Trump’s Freedom 250 Race as ‘Spectacle’ Amid $4 Gas, Graham Rahal Fires Back

Schiff accuses Trump of using IndyCar race as a political distraction from gas prices. Rahal defends race as privately funded and unifying. (Benzinga, Aug 25, 6:19 AM ET)

Price Action

Metric	Value
Open	$136.94
High	$139.75
Low	$136.10
Close	$137.96
Change vs prior close	+2.19% (prior close $135.00)
Volume	46,840,186
Intraday range	$136.10 – $139.75
Close vs IPO	-14.29% vs the June 12 IPO-day close of $160.95

SPCX opened at $136.94, just above the prior session's close of $135.00, and pushed as high as $139.75 before pulling back to finish the day at $137.96. The prior close of $135.00 also happens to match the original IPO offer price, so today's session effectively regained that offer-price level. Volume of 46,840,186 shares was well below the stock's average volume to date of 116,837,235 (about 39% of that average) and also below the prior session's 60,276,801 shares, indicating a lighter-turnout advance. The stock remains 14.29% below its first-day close of $160.95.

The one-line takeaway: SPCX rallied 2.19% on below-average volume, reclaiming the $135 offer-price level but fading from a $139.75 intraday high.

Technicals

SPCX has been trading publicly since June 12, 2026, roughly ten weeks of history as of this report. The 200-day moving average remains unavailable given the limited trading history, so any read on technicals here leans on price structure, candle shape, volume, and the shorter-window figures the data can currently support (5-, 10-, 20-, and 50-day averages, and 14-day RSI), which should still be treated as early-stage reads rather than fully seasoned signals.

Trend

The stock has pulled back from mid-August levels: closes ran from $146.23 on August 17 down to $134.00 on August 20, before stabilizing over the last three sessions at $136.97 (August 21), $135.00 (August 24), and today's $137.96. The moving averages reflect that mixed picture: the 5-day SMA ($136.72) and 20-day SMA ($130.09) sit below today's close, while the 10-day SMA ($140.06) and 50-day SMA ($140.84) sit above it. That places SPCX in a short-term stabilization above its very-short-term and 20-day averages, but still under its 10-day and 50-day averages — consistent with an attempted base after the mid-August decline rather than a confirmed trend change.

Candle read

Today's candle has a body of $1.03 (open $136.94, close $137.96, a close-over-open bullish body), an upper wick of $1.79, and a lower wick of $0.84, for a total range of $3.65. The close-location value of 0.51 means the close landed almost exactly in the middle of the day's range, despite price having pushed within $1.79 of the day's high. The upper wick more than twice the size of the lower wick indicates the advance toward $139.75 met selling pressure, with the stock giving back a significant portion of its intraday gain into the close.

Support levels

• $135.00 — prior close, also the original IPO offer price, and today's opening reference
• $134.00 — the August 20 close, the most recent short-term low
• $130.09 — the 20-day SMA

Resistance levels

• $139.75 — today's intraday high
• $140.06 — the 10-day SMA
• $140.84 — the 50-day SMA

Momentum interpretation

Bull scenario: a close back above the 10-day SMA ($140.06) and 50-day SMA ($140.84), building on today's reclaim of the $135 offer-price level, would open the path back toward the August 18 close of $143.34 and the mid-August closes near $146.

Bear scenario: a break back below $135.00 and then $134.00 (the August 20 close) would put the 20-day SMA ($130.09) back in view as the next reference point.

Neutral scenario: RSI-14 at 52.44 sits near the midpoint with no overbought or oversold reading, and with the shorter and longer moving averages currently mixed, continued chop between roughly $135 and $140 is also a plausible near-term path.

Trading Takeaway

SPCX bounced 2.19% off the prior close, retaking the $135 IPO-offer-price level, but did so on volume running well under its average to date and closed mid-range after tagging $139.75 intraday — a rally that lacked full conviction. The next session's key levels to watch are resistance at $139.75, $140.06, and $140.84, and support at $135.00, $134.00, and $130.09.

Sources

1. Cathie Wood Keeps Buying SpaceX Stock. Here's Why I Wouldn't Buy It Above a $1.8 Trillion Valuation. — The Motley Fool — https://www.fool.com/investing/2026/08/25/cathie-wood-keeps-buying-spacex-on-the-way-down-is/?source=iedfolrf0000001
2. SpaceX Stock Is Moving Higher: What's Going On Today? — Benzinga — https://www.benzinga.com/trading-ideas/movers/26/08/61416586/spacex-stock-is-moving-higher-whats-going-on-today
3. SpaceX Posts On X "Introducing Starbase, Louisiana – a high-cadence launch site that will enable Starship to open a pathway to the stars for humanity." — Benzinga — https://www.benzinga.com/news/26/08/61414913/spacex-posts-x-introducing-starbase-louisiana-high-cadence-launch-site-will-enable-starship-open-pat
4. Einhorn Vs. Musk: Hedge Fund Manager Says SpaceX IPO Was 'Meme-ification of the Market' — Benzinga — https://www.benzinga.com/markets/hedge-funds/26/08/61414377/einhorn-vs-musk-hedge-fund-manager-says-spacex-ipo-was-meme-ification-of-the-market
5. 'Anthropic Expected to Tell Investors It Sees Over $30 Trillion in Potential Revenue' - WSJ Exclusive — Benzinga — https://www.benzinga.com/news/26/08/61414358/anthropic-expected-tell-investors-it-sees-over-30-trillion-potential-revenue-wsj-exclusive
6. OpenAI Uncovers a Covert Russian Influence Machine Using ChatGPT to Build Fake Expertise and Spread Pro-Moscow Narratives Across Social Media — Benzinga — https://www.benzinga.com/news/politics/26/08/61407726/openai-uncovers-a-covert-russian-influence-machine-using-chatgpt-to-build-fake-expertise-and-spread-pro-moscow-narratives-across-social-media
7. SpaceX's AI Push Comes Into Focus as JPMorgan Sees Nearly 80% Upside — Benzinga — https://www.benzinga.com/trading-ideas/long-ideas/26/08/61405068/spacex-ai-jpmorgan-upside
8. Adam Schiff Slams Trump's Freedom 250 Race as 'Spectacle' Amid $4 Gas, Graham Rahal Fires Back — Benzinga — https://www.benzinga.com/news/politics/26/08/61402621/adam-schiff-slams-trumps-freedom-250-race-as-spectacle-amid-4-gas-graham-rahal-fires-back
9. Elon Musk's xAI Sounds Alarm Over Power Shutdown: Grok Could 'Largely Cease to Function' — Benzinga — https://www.benzinga.com/markets/tech/26/08/61401275/elon-musks-xai-sounds-alarm-over-power-shutdown-grok-could-largely-cease-to-function
10. Elon Musk Says Grok Is Taking Over Starlink Support: 15,000+ Calls a Day, 3,000+ Orders a Week — Benzinga — https://www.benzinga.com/markets/tech/26/08/61400959/elon-musk-says-grok-is-taking-over-starlink-support-15000-calls-a-day-3000-orders-a-week
11. Elon Musk Reveals Why SpaceX Launched Tesla's Roadster Into Orbit: 'We Didn't Want to Risk Anything Valuable' — Benzinga — https://www.benzinga.com/markets/tech/26/08/61400750/elon-musk-reveals-why-spacex-launched-teslas-roadster-into-orbit-we-didnt-want-to-risk-anything-valuable
12. Prediction: SpaceX's Power Needs Will Turn It Into Oklo's Biggest Customer — The Motley Fool — https://www.fool.com/investing/2026/08/25/prediction-spacexs-power-needs-will-turn-it-into-w/?source=iedfolrf0000001
13. Elon Musk Says SpaceX Targeting Q4 2027 Launch for Nvidia-Powered AI System—Touts 'Lower Cost, Denser and Lighter' Design — Benzinga — https://www.benzinga.com/markets/tech/26/08/61400018/elon-musk-says-spacex-targeting-q4-2027-launch-for-nvidia-powered-ai-system-touts-lower-cost-denser-and-lighter-design
14. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Market data and figures are sourced as cited above and may be delayed or subject to revision. Verify all data independently before making any financial decision.