SpaceX shares rise 14% after upgrade and lockup expiration

Shares of SpaceX surged on Friday, August 7, 2026, extending a sharp rebound from recent lows as an analyst upgrade and the absence of heavy insider selling after a major lockup expiration bolstered investor confidence. The stock closed at $131.06, a gain of 14% for the session, following a 6% rise on Thursday.

The rally was driven in part by an upgrade from Argus Research, which shifted its rating on SpaceX from Hold to Buy and maintained a $160 price target. The firm cited the company's strong second-quarter performance, which was reported earlier in the week. SpaceX posted revenue of $7.8 billion, a 92% increase from the same period a year earlier and above analyst expectations of roughly $6.8 billion. Adjusted earnings before interest, taxes, depreciation, and amortization reached $3.5 billion, also surpassing Wall Street forecasts.

A key overhang for the stock was lifted as the first and largest post-IPO lockup period expired on Thursday without triggering the wave of insider selling many investors had feared. Up to 911.5 million shares held by employees and early investors became eligible for sale, more than doubling the publicly tradable float. Analysts suggested the...