SpaceX Stock Volatile as Ark Buys the Dip

SPCX (Space Exploration Technologies Corp) closed at $116.465 on July 28, 2026, up 2.61% from the prior close of $113.50.

Executive Summary

SPCX snapped a multi-session slide on July 28, closing at $116.465, up 2.61% on the day after opening at $109.32 and trading as low as $107.01 before recovering into the close. The session followed a stretch of post-IPO selling that had pulled the stock from $118.24 on July 23 to $113.50 by July 27. Benzinga reported the stock as "volatile" through the day amid ongoing post-IPO selling, an upcoming insider lockup expiration, and bearish commentary from Charlie Bilello and Peter Schiff, with Schiff separately quoted calling it "dangerous" to buy into the hype after the stock's more-than-50% drop from its lifetime high. On the other side, Benzinga and Motley Fool coverage noted Cathie Wood's Ark Invest continued buying the dip, adding roughly $12.2 million of SPCX shares on July 28 even as the post-IPO pullback in market value topped $1.2 trillion by one estimate.

Coverage also flagged two near-term catalysts: Motley Fool reported SpaceX is scheduled to report second-quarter earnings on August 4, with Wall Street looking for $6.9 billion in revenue and a $0.28 per-share loss, and separately that insider lockup restrictions are set to expire August 6, potentially freeing up to 911.5 million shares for sale. Multiple Motley Fool pieces published the same day debated valuation, citing a roughly 43-50% decline from post-IPO highs, a market cap cited variously near $1.42-1.5 trillion, and price-to-sales multiples in the 38x-80x range depending on the source and revenue base used.

News

1. Cathie Wood Bets Big on Nvidia Stock: Ark Buys $15.6 Million Worth of Shares as Jim Cramer Calls Chip 'Absurd' — Ark Loads Up on SpaceX, Tesla

Cathie Wood's Ark bought $12.2 million of SpaceX, $12.4 million of Tesla and $15.6 million of Nvidia on Tuesday July 28, 2026. (Benzinga, Jul 28, 11:05 PM ET)

2. 'SpaceX, Blue Origin Could Get Quicker Launch Approval Under FAA Move To Waive Environmental Rules' - CNBC

(Benzinga, Jul 28, 5:16 PM ET)

3. SpaceXAI Announces 4.5 Is Now Available In GitHub Copilot

(Benzinga, Jul 28, 5:16 PM ET)

4. OpenAI’s $1 Trillion IPO Ambition Faces New Timing Test as Anthropic Gains Ground

OpenAI may be extending the timeline for IPO, as the company weighs whether market conditions can support a $1 trillion valuation. (Benzinga, Jul 28, 2:19 PM ET)

5. SpaceX Wipes Out a Full Tesla's Worth of Market Value Since Peaking in June

SpaceX went public at $1 trillion valuation, but now dropped to $1.42 trillion. In comparison, Tesla took 18 years to reach $1 trillion. (Benzinga, Jul 28, 1:42 PM ET)

6. Should You Buy SpaceX Stock Below $120?

SpaceX stock has fallen 43% from its IPO highs to around $120, but the article argues it remains overvalued. With a $1.5 trillion market cap and P/S ratio of 80 based on $18.7 billion in 2025 revenue, the stock would need massive revenue growth into the hundreds of billions to justify current valuations. The company's future depends heavily on AI data center infrastructure investments, which carry significant execution risk. Additional selling pressure is expected from post-IPO lock-up expirations. (The Motley Fool, Jul 28, 1:05 PM ET)

7. SpaceX Stock Is Volatile On Tuesday — What's Going On? (UPDATED)

Space Exploration Technologies Corp. (NASDAQ: SPCX) stock fell on Tuesday amid ongoing post-IPO selling, an upcoming insider lockup expiration and analyst commentary from Charlie Bilello and Peter Schiff. (Benzinga, Jul 28, 12:26 PM ET)

8. Elon Musk, On X, Says Grok 4.6 To Be Released Around Aug. 7; Grok 4.7 Will Be 2.1T Model Released A Few Weeks Later

(Benzinga, Jul 28, 11:22 AM ET)

Price Action

Metric	Value
Open	$109.32
High	$118.13
Low	$107.01
Close	$116.465
Change vs prior close	+$2.965 (+2.61%), from $113.50
Volume	73,859,203
Intraday range	$107.01 - $118.13 ($11.12)
Close vs IPO	-13.73% vs $135.00 offer price; -27.64% vs $160.95 first-day close

SPCX opened at $109.32, near the bottom of the recent slide, then traded down to an intraday low of $107.01 before buyers stepped in and drove the stock to a session high of $118.13. It closed at $116.465, near the top of its $11.12 range. Volume came in at 73,859,203 shares, up about 14.3% from the prior session's 64,633,639 and modestly below the average-to-date of 75,009,751. The close remains well below both the $135.00 IPO offer price and the $160.95 first-day close.

Takeaway: a higher-volume rebound off the session low reversed three straight down days, but the close still sits more than 13% under the IPO offer price and over 27% under the first-day close.

Technicals

SPCX has been trading for roughly six weeks since its June 12, 2026 IPO. There is now enough price history for RSI-14 and moving averages through SMA-20, but SMA-50 and SMA-200 remain unavailable and should not be treated as established trend anchors yet. All readings below should be weighed against that short history.

Trend

The stock is in a broad correction from its post-IPO peak. Daily closes ran from $160.95 on IPO day to a peak of $201.80 on June 16, then declined with brief bounces to $113.50 by July 27 before today's close of $116.465. Short-horizon averages are mixed relative to price: the close sits above SMA-5 ($115.71) and just below EMA-5 ($117.07), but remains below both SMA-10 ($121.23) and SMA-20 ($136.68). That places today's move as a short-term bounce inside a longer-run downtrend that the medium averages still reflect.

Candle read

The July 28 candle has a bullish body of $7.15 (close above open), an upper wick of $1.66, and a lower wick of $2.31, for a total range of $11.12. The close location of 0.85 means the close sits 85% of the way up the day's range, close to the session high. The longer lower wick relative to the upper wick shows the stock was pushed down toward $107.01 intraday and then bought back up, a pattern consistent with buying interest emerging at the lower end of the range rather than sellers pressing the close.

Support levels

• $113.50 - the prior close, now a level to hold on any pullback
• $115.71 - SMA-5, sitting just under today's close
• $107.01 - today's intraday low, the nearest real level below current price

Resistance levels

• $117.07 - EMA-5, just above today's close
• $118.13 - today's intraday high
• $118.24 - the July 23 close, the most recent higher close before the slide to $113.50
• $121.23 - SMA-10
• $135.00 - the IPO offer price, a longer-run reference level well above current price

Momentum interpretation

RSI-14 reads 36.4, below the 50 midpoint but not yet in oversold territory (sub-30).

Bull scenario: a hold above SMA-5 ($115.71) and EMA-5 ($117.07) that pushes through today's high of $118.13 and the July 23 close of $118.24 would open a path toward SMA-10 at $121.23.

Bear scenario: a break back below the prior close of $113.50 and today's low of $107.01 would put the stock back in line with the multi-week downtrend still reflected in SMA-20 ($136.68).

Neutral scenario: continued chop between today's low of $107.01 and today's high of $118.13 without a decisive break of either level.

Trading Takeaway

July 28 produced a higher-volume reversal off the session low, with the close near the top of the day's range and above the 5-day averages, but the stock remains well under its 10- and 20-day averages and more than 13% below the $135.00 IPO offer price. The next session's key levels to watch are support at $113.50 (prior close) and $107.01 (today's low), against resistance at $118.13 (today's high) and $121.23 (SMA-10). Reported news flow also points to two near-term catalysts already on the calendar: second-quarter earnings on August 4 and the insider lockup expiration on August 6, both cited as potential sources of added volatility.

Sources

1. Cathie Wood Bets Big on Nvidia Stock: Ark Buys $15.6 Million Worth of Shares as Jim Cramer Calls Chip 'Absurd' — Ark Loads Up on SpaceX, Tesla — Benzinga
2. 'SpaceX, Blue Origin Could Get Quicker Launch Approval Under FAA Move To Waive Environmental Rules' - CNBC — Benzinga
3. SpaceXAI Announces 4.5 Is Now Available In GitHub Copilot — Benzinga
4. OpenAI's $1 Trillion IPO Ambition Faces New Timing Test as Anthropic Gains Ground — Benzinga
5. SpaceX Wipes Out a Full Tesla's Worth of Market Value Since Peaking in June — Benzinga
6. Should You Buy SpaceX Stock Below $120? — The Motley Fool
7. SpaceX Stock Is Volatile On Tuesday — What's Going On? (UPDATED) — Benzinga
8. Elon Musk, On X, Says Grok 4.6 To Be Released Around Aug. 7; Grok 4.7 Will Be 2.1T Model Released A Few Weeks Later — Benzinga
9. Is Elon Musk Borrowing Amazon Prime's Playbook for X Money? — Benzinga
10. Cathie Wood Keeps Buying Every SpaceX Dip, Adds Another Lot of SPCX Despite $1.2 Trillion Rout — Benzinga
11. Trump Administration Exempts SpaceX's Starlink From Sweeping FCC Ban on Foreign-Made Routers Through February 2028 — Benzinga
12. SpaceX Has Nosedived 50% From Its All-Time High, and It May Realistically Lose Another 50% Before Its Valuation Makes Any Sense — The Motley Fool
13. Amazon Seeks FCC Approval to Launch Over 5,000 Starlink Rival Satellites for Direct-to-Device Service — Benzinga
14. MEXC Users Put Nearly a Third of First-Month RealStocks Volume Into SpaceX — GlobeNewswire Inc.
15. Ron Baron Predicts SpaceX Will Be the World's Biggest Company, Says His $25 Billion Stake Could Still Rise 30-Fold Despite IPO Stumble: 'We Consider Ourselves...' — Benzinga
16. SpaceX Will Give Investors Big News on Aug. 4. Here's What a $10,000 Investment Could Be Worth on Aug. 5. — The Motley Fool
17. NASA Chief Jared Isaacman Says 'Never Bet Against' Elon Musk, Adds 'We Can't Do It Without' SpaceX for Moon Base — Benzinga
18. Is SpaceX a No-Brainer Buy Below $120? (Hint: The Answer May Surprise You) — The Motley Fool
19. If You'd Bought $10,000 of SpaceX Stock at the IPO, Here's What You'd Have Today — The Motley Fool
20. Rocket Lab Has Fallen 58% From Its High While Wall Street's Average Target Sits 79% Above the Price. One Side Is Badly Wrong. — The Motley Fool
21. Elon Musk to Donate His Wealth Before 2036? Tesla CEO Says He Might After Nobel Prize Winner's Challenge — Benzinga
22. SPCX Falls More Than 50% From Lifetime High, Peter Schiff Calls It 'Dangerous' to Buy Into Hype — Benzinga
23. 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 derived solely from the sources cited above and may be incomplete or delayed. Verify all figures independently before making any financial decision.