SpaceX shares rebound after selloff as analysts watch Musk conference

Recent stock move

The Economic Times reports that SpaceX stock, traded as SPCX in the article, rebounded 4.89% after a Thursday selloff that had deepened an already weak month for shareholders. The piece says the stock is down 10.32% over the last five trading days and 28.13% over one month, while still up 7.53% over three months. It adds that at $129.66, the shares would remain below recent trading levels.

Longer-term price context

According to The Economic Times, the stock has had trouble holding gains since its June 2026 listing. The article says SPCX once reached an all-time high of about $226 before giving back much of that advance. It also says trader Ali Martinez pointed to a break below the middle of SPCX’s parallel trading channel.

Analyst view on further downside

The Economic Times reports that Martinez thinks the technical setup could leave the stock exposed to another 12% decline, which would put it near $108. The article says that level would be closer to the reported all-time low of $104.83. Martinez also tied some of the selling pressure to an October share unlock involving around 2 billion shares, saying the added supply could make a recovery harder to sustain.

Musk and Baron Capital conference

The article says Adam Spatacco is watching Friday’s Baron Capital conference as a possible catalyst. Musk is scheduled to join Ron Baron, the founder of Baron Capital, for a fireside conversation at the firm’s 33rd annual investment conference at Lincoln Center in New York. The session is listed for 1:10 p.m. Eastern Time.

What investors may be listening for

The Economic Times says Spatacco thinks Musk may use the discussion to offer updates that could help investors understand the company’s next stage of growth. The article says the areas he is watching include Starlink Mobile, enterprise AI contracts, Grok, and plans for computing infrastructure in orbit. It also says Spatacco expects the shares could rally if Musk gives encouraging updates, while warning against buying only on conference expectations.

Results and analyst outlook

The article says Spatacco’s optimism is also tied to SpaceX’s third-quarter 2026 results. The company reported revenue of $14.6 billion, up 161% from $5.6 billion a year earlier, net income of $4.4 billion versus a net loss of $1.1 billion in the same quarter last year, and adjusted EBITDA of $8.8 billion, up 306%. It says Connectivity, which includes Starlink, grew revenue 69%, and Super Intelligence revenue rose about 830% year over year to $7.56 billion.

The Economic Times says Wall Street remains positive despite the decline. Citing TipRanks, the article says 29 analysts rate the stock Buy, five rate it Hold, and one rates it Sell, with an average 12-month price target of $250.34.