Starlink Adds 1.6 Million Subscribers in Q3 as Shares Slip 2.3%

SPCX closed at 145.22 on October 28, 2026, down 3.36 (-2.26%) from the prior close of 148.58, on volume of 89,138,593 shares.

Executive Summary

SPCX fell for a second session out of three, closing at 145.22 after trading between 142.13 and 148.2. The stock opened at 147.37, below the prior close, and sellers kept it under that level all day. It recovered from the low and finished near the middle of the day's range. The close sits 10.22 (7.57%) above the 135 IPO offer price and 15.73 (9.77%) below the first-day close of 160.95.

Headlines on the day centered on SpaceX's third-quarter results and the company's most recent quarterly filing. The Motley Fool reported that Starlink added 1.6 million customers to reach 13.6 million subscribers, and that connectivity revenue grew 69.5% year over year to $5.2 billion. It also reported that the Super Intelligence segment, formerly the AI segment, is now the largest revenue driver. Other coverage flagged revenue concentration from a single customer in the 10-Q, and the FCC approval of Amazon's Globalstar deal. The headlines do not establish why the shares fell, and this report does not attribute the move to any one of them.

News

1. SpaceX’s Starlink Just Added 1.6 Million Customers. But That’s Not the Best News

SpaceX reported strong Q3 results with Starlink adding 1.6 million customers to reach 13.6 million total subscribers. Connectivity revenue grew 69.5% YoY to $5.2 billion with operating income up 99%. Most notably, average revenue per user increased 4.5% sequentially to $69, a rare occurrence. The company plans to launch 100,000 more powerful Starlink V3 satellites using its Starship rocket, which could significantly expand capacity and reduce costs, though execution and regulatory risks remain. (The Motley Fool, Oct 28, 3:48 PM ET)

2. 2 AI Stocks to Buy if the Market Sells Off Before Year-End

The article discusses SpaceX and Tesla as potential AI stock buys during a market downturn. While both companies show strong AI-driven growth prospects—SpaceX's Super Intelligence segment grew 830% YoY and Tesla's Full Self-Driving software generates ~$1B in recurring revenue—the author recommends waiting for better entry points, as both stocks are currently overvalued with forward P/E ratios of 85.5 and 133.3 respectively. (The Motley Fool, Oct 28, 3:37 PM ET)

3. OpenAI Jumps 32%, Airtable Crashes 56% As Private Market Returns Diverge

OpenAI surged 32.3% in September while Airtable plunged 56.1%, highlighting a widening divide in private-market performance. (Benzinga, Oct 28, 2:51 PM ET)

4. SpaceX Could Keep Starship Cost Savings Instead of Cutting Launch Prices, Varda Executive Says

Varda executive Michael Reilly says SpaceX may keep Starship’s cost savings unless stronger launch competition forces prices lower. (Benzinga, Oct 28, 12:00 PM ET)

5. SpaceX’s Starlink Could Be a 'New Customer at Scale' for American Tower

American Tower CEO sees SpaceX's Starlink as a potential large-scale U.S. customer, but not accounted for its long-term growth outlook yet. (Benzinga, Oct 28, 11:22 AM ET)

6. SpaceX Quarterly Filing Reveals High Revenue Concentration and AI Compute Growth

A recent quarterly 10-Q filing from SpaceX highlights significant revenue concentration from a single customer and substantial investment in AI infrastructure. (Fiscal.ai, Oct 28, 11:01 AM ET)

7. Michael Burry Finds a $537 Billion Hole in Anthropic’s IPO Story

Michael Burry says Anthropic’s IPO filing masks over $537B in compute commitments as growth slows and revenue per compute dollar declines. (Benzinga, Oct 28, 10:43 AM ET)

8. Watching Space Exploration Technologies; Shares Fall To Downside, Traders Circulate Russia's Putin Calls Elon Musk A “True Genius” As Russia Develops Rassvet Satellite Network To Rival SpaceX’s Starlink; He Acknowledged Russia Remains Far Behind SpaceX, Which Has Thousands Of Satellites In Orbit

(Benzinga, Oct 28, 9:36 AM ET)

Price Action

Metric	Value
Open	147.37
High	148.20
Low	142.13
Close	145.22
Change vs prior close	-3.36 (-2.26%)
Volume	89,138,593
Intraday range	6.07
Close vs IPO	-15.73 (-9.77%) vs the 160.95 first-day close; +10.22 (+7.57%) vs the 135 offer price

The session opened 1.21 below the prior close of 148.58 and set its high of 148.2 early, below that prior close. The low of 142.13 came 5.07 under the high. Buyers then pushed the stock back up, and it closed 3.09 above the low. Volume was below both the prior session's 95,920,130 and the average to date of 103,924,053, so the decline came on lighter participation than usual.

Over the last six sessions the stock has closed between 144.75 and 148.58, except for the 159.31 close on October 21. The close on October 28 is inside that cluster, near its lower end.

The takeaway: SPCX gave back 2.26% on below-average volume and held the lower half of its recent 144.75 to 148.58 closing cluster.

Technicals

SPCX has traded for only a few months, so the usual long-window tools carry limited weight. The 200-day moving average is not available because the history is too short. The 14-day RSI and the 20 and 50-day averages are computed from the bars that exist and are reported below as provided, but they rest on a short record and should be read with caution. The analysis below leans on price structure, candle shape, volume and real price levels.

Trend

The close of 145.22 is below the 5-day SMA (146.59), the 5-day EMA (147.42), the 10-day SMA (148.27) and the 20-day SMA (154.78). It is slightly below the 50-day SMA (149.46). Short-term averages are sloped against the stock, and the gap to the 20-day average reflects the pullback from the October 6 close of 171.92. The 14-day RSI reads 44.75, a little below the midpoint and not near an extreme. Since the mid-July low closes near 108, the stock has stayed well above that area, and it is still above the 135 offer price.

Candle read

The candle has a body of -2.15 (open 147.37, close 145.22), a bearish body. The upper wick is short at 0.83 and the lower wick is longer at 3.09, against a total range of 6.07. The close location of 0.51 puts the close almost exactly in the middle of the range. In plain terms, sellers controlled the open and pushed the stock to 142.13, but buyers absorbed that selling and recovered about half the range. The long lower wick shows some demand near 142, but the close did not finish near the high, so the candle does not show a clear reversal.

Support levels

• 144.75: the October 22 close, the lowest close of the recent cluster and only 0.47 below today's close.
• 142.13: today's intraday low.
• 140: a round number, near the August 14 close of 140.
• 135: the IPO offer price, also near the August 24 close of 135.

Resistance levels

• 146.59 to 148.27: the 5-day and 10-day SMAs, just overhead.
• 148.20 and 148.58: today's high and the prior close.
• 149.46: the 50-day SMA.
• 154.78: the 20-day SMA.
• 160.95: the first-day close.

Momentum interpretation

Bull scenario: A move back above the prior close of 148.58 and the 149.46 50-day SMA would put the stock above both the short-term averages and today's high, and would make the 154.78 20-day SMA the next level to watch. Participation matters here, since today's volume was below average.

Bear scenario: A close below 144.75 would break the low of the recent closing cluster. The next levels to watch would be today's low of 142.13, then 140.

Neutral scenario: Closes between 144.75 and 148.58 would keep SPCX in the same range it has held for the last six sessions, with the question of direction unresolved.

Trading Takeaway

SPCX closed lower on below-average volume after a session that tested 142.13 and recovered to the middle of the range. It sits below its short-term and 20-day averages and just under the 50-day average. RSI is 44.75, so momentum is soft but not stretched. The quarterly results and filing details drew heavy coverage, yet the price action does not show a decisive reaction either way.

Key levels for the next session: 142.13 and 144.75 below, and 146.59, 148.2, 148.58 and 149.46 above. A break of either side of the 144.75 to 148.58 band would be the first real change in the recent pattern.

Sources

1. SpaceX's Starlink Just Added 1.6 Million Customers. But That's Not the Best News (The Motley Fool)
2. 2 AI Stocks to Buy if the Market Sells Off Before Year-End (The Motley Fool)
3. OpenAI Jumps 32%, Airtable Crashes 56% As Private Market Returns Diverge (Benzinga)
4. SpaceX Could Keep Starship Cost Savings Instead of Cutting Launch Prices, Varda Executive Says (Benzinga)
5. SpaceX's Starlink Could Be a 'New Customer at Scale' for American Tower (Benzinga)
6. SpaceX Quarterly Filing Reveals High Revenue Concentration and AI Compute Growth; SpaceX Secures Upsized Compute Renewal with Anthropic (Fiscal.ai)
7. Michael Burry Finds a $537 Billion Hole in Anthropic's IPO Story (Benzinga)
8. Watching Space Exploration Technologies; Shares Fall To Downside (Benzinga)
9. Google Earnings Prediction Market Preview: What Will Sundar Pichai Say? (Benzinga)
10. 'Evil Is Better Than Bad': Peter Thiel's Unsettling Defense of Elon Musk (Benzinga)
11. Why Elon Musk's Latest Trillion-Dollar Forecast for SpaceX Is One That Investors Should Take With a Grain of Salt (The Motley Fool)
12. Robert Reich Fires Back at Elon Musk After SPCX CEO Calls for His Imprisonment Over Starlink Ukraine Row (Benzinga)
13. Elon Musk Says SpaceX's Starbase Louisiana Alone Could Support 10,000 Annual Starship Launches (Benzinga)
14. Cathie Wood Predicts Oil Crashing to $30-$35 a Barrel as EVs Take Over Transportation (Benzinga)
15. A Big Shift Just Happened at SpaceX. Is It Time to Buy? (The Motley Fool)
16. Jeff Bezos Just Got a New Boost in His Rivalry With Elon Musk: Amazon Wins FCC Approval for $11.5 Billion Globalstar Deal (Benzinga)
17. Elon Musk Says SpaceX Is Now a "Super Intelligence" Company (The Motley Fool)
18. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Market data and news are drawn from the sources listed above and may contain errors or delays. Verify all figures independently before making any financial decision.