SpaceX Dips as Rally Fades on Short Covering Pullback

SPCX closed at $141.25 on August 13, 2026, down 3.35% versus the prior close as the stock gave back part of this week's rally.

Executive Summary

SPCX opened at $143.75, pushed as high as $145.05 in early trading, then faded through the session to close at $141.25, a decline of 3.35% versus Wednesday's $146.15 close. Volume came in at 107.4 million shares, below both the prior session's 167.3 million and the 111.8 million average-to-date, suggesting the pullback came on lighter participation than the move that preceded it. Benzinga's same-day coverage framed the session as shares "giving back part of this week's rally after a wave of short covering fueled the move higher," consistent with a stock that ran hard off recent lows and is now consolidating some of those gains.

The day's news flow was dominated by AI-related commentary rather than new operational disclosures. The Motley Fool reported CEO Elon Musk's statement that the majority of SpaceX's revenue will come from artificial intelligence by next month, and separately covered Alphabet's Q2 2026 13F filing showing a 551.2 million share stake in SpaceX. Coverage was mixed on valuation: one Motley Fool piece argued that despite 92% year-over-year revenue growth, negative free cash flow, heavy AI capex, and upcoming insider share unlocks raise overvaluation concerns, while another noted the stock's rebound back above its $135 IPO offer price and cited a Wall Street price target of $235.69 alongside an analyst recommendation to wait for a better entry point. CNBC contributor Stephanie Link was also reported to have added to her SpaceX position on air. None of this commentary is reflected as advice in this report; it is summarized only as context for the session's price action.

News

1. Micron and Sandisk Stock Have Plummeted. Here's Why Now Is the Perfect Time to Buy

Micron and Sandisk stocks have declined 25-42% from 2026 highs due to market concerns about future memory chip price declines. However, the article argues both are buying opportunities given severe memory chip shortages driven by AI buildout, with Wall Street projecting 85-140% revenue growth for FY 2027. New production capacity won't come online until late 2027-2028, supporting elevated prices and strong demand in the near term. (The Motley Fool, Aug 13, 3:05 PM ET)

2. SpaceX Stock Dips Thursday: What's Going On?

Space Exploration Technologies Corp (NASDAQ:SPCX) shares are falling Thursday, giving back part of this week's rally after a wave of short covering fueled the move higher. Here's what you should know. (Benzinga, Aug 13, 2:10 PM ET)

3. 10 Communication Services Stocks Whale Activity 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, Aug 13, 1:35 PM ET)

4. Musk's Grok 4.6 Jumps to AI Frontier, Matches OpenAI at a Fraction of the Price

Grok 4.6 matched OpenAI’s GPT-5.6 Sol Max on Artificial Analysis’ intelligence benchmark while offering sharply lower API pricing. (Benzinga, Aug 13, 1:23 PM ET)

5. Elon Musk Claims The Majority of SpaceX Revenue Will Be From AI Next Month

SpaceX CEO Elon Musk stated that the majority of the company's revenue will come from artificial intelligence by September, with 99% expected within 4-5 years. The company has secured lucrative AI compute deals with Anthropic and Alphabet generating $2.15 billion in monthly revenue. SpaceX's $28.5 trillion total addressable market is largely driven by its $26.5 trillion AI division. However, the company's valuation remains dependent on successfully executing its space ambitions, including orbital data center deployment via its Starship rocket. (The Motley Fool, Aug 13, 1:17 PM ET)

6. Live On CNBC, Stephanie Link Announces Bought More SpaceX

(Benzinga, Aug 13, 12:25 PM ET)

7. Smart Money Sells #1 Dow Stock; Hidden Inflation In PPI; Applied Materials Earnings To Tell A Key AI Story

Important Earnings Ahead

Please click here for an enlarged chart of Cisco Systems Inc (NASDAQ:CSCO).

Note the following:

This article is about the big picture, not an individual stock.  The chart of CSCO (Benzinga, Aug 13, 11:35 AM ET)

8. ‘Tesla Is Going All In on Nuclear’: Chamath Palihapitiya Weighs In on Elon Musk’s $10 Billiom Solar Manufacturing Bet (UPDATED)

Chamath Palihapitiya said Tesla's expansion into solar manufacturing was a bet on nuclear power, as the automaker weighs a $10.1B plant. (Benzinga, Aug 13, 8:52 AM ET)

Price Action

Metric	Value
Open	$143.75
High	$145.05
Low	$139.76
Close	$141.25
Change vs prior close	-3.35% (prior close $146.15)
Volume	107,417,028 shares
Intraday range	$5.29 ($139.76 – $145.05)
Close vs IPO	+4.63% vs IPO offer price ($135.00); -12.24% vs IPO-day close ($160.95)

SPCX traded in a $5.29 range, roughly in line with recent daily swings for a stock still just over two months removed from its Nasdaq debut. The session's volume of 107.4 million shares ran below the 111.8 million average-to-date and well below Wednesday's 167.3 million, indicating the pullback was not accompanied by an outsized surge in selling activity. Shares remain above the $135.00 IPO offer price but well below the $160.95 first-day close.

Takeaway: A lower-volume pullback off a short-covering rally, with price still holding above the IPO offer price.

Technicals

SPCX began trading on June 12, 2026, giving it roughly two months of price history. At this stage, 14-day RSI and 20/50/200-day moving averages are not yet fully meaningful — the SMA-50 and SMA-200 are not available (insufficient bars per the indicator registry), and even shorter-window readings should be treated as early signals rather than established technical anchors. The read below leans on price structure, candle shape, volume, and the real levels in the data.

Trend

SPCX priced its IPO at $135.00 and closed its first day at $160.95, then ran to a closing high of $201.80 on June 16 before reversing into a multi-week decline that bottomed at a closing low of $108.27 on August 5. From that low, the stock has rallied over the past six sessions, closing at $133.11, $138.74, $133.29, and $146.15 on August 7, 10, 11, and 12 respectively, before today's pullback to $141.25. Price remains above the SMA-5 ($138.51), EMA-5 ($136.85), SMA-10 ($126.40), and SMA-20 ($121.73), which is consistent with the short-term recovery trend staying intact even after today's decline. RSI-14 sits at 55.44, a neutral reading that is neither overbought nor oversold.

Candle read

Today's session produced a red (bearish) candle. The body ran from the $143.75 open down to the $141.25 close, a body of -2.5. An upper wick of 1.30 shows price pushed as high as $145.05 before that early strength was rejected. A lower wick of 1.49 shows buyers stepped in below the close, holding the low at $139.76 rather than letting the session's low become the close. The close-location value of 0.28 means the close settled in the lower third of the day's $5.29 range — sellers were in control into the close even though the low was not tested a second time.

Support levels

• $139.76 — today's session low
• $138.51 / $136.85 — SMA-5 / EMA-5 cluster
• $135.00 — IPO offer price, a round-number and structural anchor
• $126.40 — SMA-10

Resistance levels

• $145.05 — today's session high
• $146.15 — prior close (Aug 12)
• $150.00 — round-number level above the current range
• $160.95 — IPO-day close

Momentum interpretation

Bull scenario: A reclaim of the $145.05 intraday high, followed by a close back above the $146.15 prior close, would put the recent rally back in motion and open the path toward the $150.00 round-number level and, further out, the $160.95 IPO-day close.

Bear scenario: A break below the $139.76 session low that fails to hold the $138.51 / $136.85 SMA-5 / EMA-5 cluster would shift the short-term structure lower, with the $135.00 IPO offer price as the next level to watch.

Neutral scenario: Continued consolidation between the $139.76 low and the $145.05 high, with the SMA-5/EMA-5 cluster acting as a floor, would suggest the market is digesting this week's short-covering rally before its next directional move.

Trading Takeaway

SPCX's pullback came on below-average volume and left the stock still above both its IPO offer price and its short-term moving averages, which keeps the multi-day recovery structure technically intact despite today's red candle and weak close-location. The next session's key levels: resistance at $145.05 (today's high) and $146.15 (prior close); support at $139.76 (today's low), the $138.51 / $136.85 SMA-5 / EMA-5 cluster, and $135.00 (IPO offer price).

Sources

1. SpaceX Stock Dips Thursday: What's Going On? — Benzinga
2. Elon Musk Claims The Majority of SpaceX Revenue Will Be From AI Next Month — The Motley Fool
3. Google Parent Alphabet Just Revealed How Many SpaceX Shares It Owns... and the Figure Is a Doozy — The Motley Fool
4. Elon Musk Says SpaceX Short-Sellers Probably Won't Survive. These 3 Earnings Numbers Say He's Wrong. — The Motley Fool
5. SpaceX Is Back Above Its IPO Price. Is It too Late to Buy the Stock? — The Motley Fool
6. Live On CNBC, Stephanie Link Announces Bought More SpaceX — Benzinga
7. 10 Communication Services Stocks Whale Activity In Today's Session — Benzinga
8. Musk's Grok 4.6 Jumps to AI Frontier, Matches OpenAI at a Fraction of the Price — Benzinga
9. Smart Money Sells #1 Dow Stock; Hidden Inflation In PPI; Applied Materials Earnings To Tell A Key AI Story — Benzinga
10. 'Tesla Is Going All In on Nuclear': Chamath Palihapitiya Weighs In on Elon Musk's $10 Billion Solar Manufacturing Bet (UPDATED) — Benzinga
11. Anthropic Could Reportedly Target $2 Trillion Valuation in October IPO—Jim Cramer Dismisses 'Out of Hand' Bubble Fears Amid Revenue Potential — Benzinga
12. Bitcoin and Dogecoin Faltered in 2026, But This Little-Known Token Exploded 375% as SpaceX IPO Fever Took Over — Benzinga
13. Early Tesla Investor Steve Jurvetson Bets on SpaceX Alumni to Solve AI's Power Problem: 'The Endgame for Datacenter...' — Benzinga
14. Texas Freezes Billions in Broadband Grants as Lawmakers Probe Alleged Starlink Favoritism — Benzinga
15. Micron and Sandisk Stock Have Plummeted. Here's Why Now Is the Perfect Time to Buy — The Motley Fool
16. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market data is sourced from Alpaca Markets (SIP) and news sources as cited above; while every effort is made to ensure accuracy, all figures should be independently verified before making any financial decision. SPCX is a recently listed security with limited trading history, and technical indicators referenced here carry additional uncertainty as a result.