SpaceX stock falls 6.4% amid broader tech selloff

Stock moves lower in a broad tech selloff

Gotrade reported that SpaceX (SPCX) fell 6.37% on Friday, October 30, 2026, closing at $134.72. The stock ended $0.22 above its intraday low and slightly below its $135 IPO price. According to Gotrade, the move happened as technology shares sold off more broadly, and the session coverage did not point to a SpaceX-specific trigger.

Trading details and market backdrop

Gotrade said SPCX opened at $137.85, below Thursday’s close, and traded between $134.50 and $140.20 during the regular session. Volume reached 122.7 million shares, which was 20.13% above the 102.1 million-share average. The decline was steeper than the Nasdaq Composite’s 2.86% drop to 25,437.00. The S&P 500 fell 1.82% to 7,580.07, and the Dow Jones Industrial Average lost 1.09% to 51,770.31. The U.S. 10-year Treasury yield declined by 6.0 basis points to 4.93%.

AP-linked explanation for the tech slump

Gotrade said the Associated Press tied the wider selloff to concerns about whether large AI spending will generate enough profit and productivity. AP also said Intel’s forecast for the final quarter of 2026 came in well below expectations, and that chip stocks and other companies tied to AI data centers fell on worries that higher interest rates could slow buildouts. Gotrade noted that other large technology names also weakened, including Oracle, which fell 6.37%, and Intel, which dropped 28.58%. Tesla, which Elon Musk also leads, slipped 0.87%.

SpaceX’s reported revenue mix and business figures

Gotrade said SpaceX’s quarterly Form 10-Q shows that its Super Intelligence segment produced $7,560 million of third-quarter revenue out of total quarterly revenue of $14,575 million. That compares with $813 million from the segment a year earlier. The article said Motley Fool describes that unit as renting computing power and selling AI software and ads. Gotrade also said total third-quarter revenue rose from $5,576 million a year earlier, while the Connectivity segment increased to $5,248 million from $3,097 million.

Supporting factors and risks noted by the source

Gotrade said Starlink had 13.6 million consumer subscribers at the end of September, up about 89% from a year earlier, according to Motley Fool citing SpaceX filings. The article also said management expects first-quarter 2027 revenue of $33 billion to $37 billion, per Motley Fool.

On the risk side, Gotrade reported that purchases of property, plant and equipment totaled $48,069 million in the first nine months of 2026, up from $13,846 million a year earlier, while Motley Fool compared that spending with $13.1 billion of operating cash flow. Musk said on Motley Fool’s account that SpaceX rents computing power at “effectively the spot-market rate,” which could make revenue more variable. Gotrade also said Starlink’s average revenue per user fell to $69 in the third quarter from $83 a year earlier.

Other items mentioned in the article

Gotrade said Friday’s drop was not directly linked by financial media to SpaceX’s AI exposure. A Motley Fool column after the session said “the doubt is whether the AI spending pays off,” and noted that SpaceX went public in June at $135 per share. The article also said Simply Wall St reported on November 1 that a federal judge allowed an NAACP Clean Air Act complaint over gas-fired turbine emissions at SpaceX’s Mississippi AI data centers to proceed. Gotrade further reported that Musk said on SpaceX’s third-quarter call that merging with Tesla was a good idea, and that each company formed a special committee. Motley Fool said a stock-based deal could create significant dilution for SpaceX holders.