SpaceX Rallies 11% as an Early-Stage Token Sale Attracts Interest

SpaceX saw a notable intraday move on August 11 after a leaked internal meeting suggested Elon Musk expects AI revenue to exceed other business lines, including Starlink and launch services, in the near term.

A day later, Morgan Stanley reaffirmed an overweight rating and outlined a bull-case price target of $600 per share, a scenario that would imply an $8 trillion valuation. Some market participants point to such moves as examples of asymmetric risk/return dynamics. While SpaceX is trading at a multi-trillion-dollar valuation with potential for further change, an earlier-stage opportunity in crypto has attracted attention for different reasons.

SpaceX’s recent market moves, in brief

SpaceX listed on Nasdaq under the ticker SPCX on June 12, 2026, opening at $135 per share, according to market reports. The stock reached a high before experiencing a drawdown as markets assessed the company’s cash flow dynamics and other factors.

As of August 12, SPCX was trading in a range near its IPO price, with a market capitalization reported around $1.8 trillion. The recent rally has been linked in market commentary to the company’s greater emphasis on artificial intelligence and related commercial contracts.

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