Did Trump Just Move SpaceX Stock With One Truth Social Post?

President Donald Trump praised Space Force on Truth Social on Tuesday. SpaceX (SPCX) stock rose 2.79% the same morning. The two facts look connected, but are they?

SpaceX depends on Space Force contracts worth billions of dollars. That link led traders to ask whether a single post could move the stock.

Why Trump's Post Put SpaceX Stock in the Spotlight

Trump said in a Truth Social post that the US Navy had cleared every mine from the Strait of Hormuz. He warned Iran against placing new ones. Then he named the agency that pays SpaceX billions.

"Through Space Force, we are watching every square inch of the Strait, as we are, also, with Pickaxe Mountain and the already destroyed three other Nuclear sites," Donald Trump, President of the United States, in the statement.

The money trail behind that name is real, because in May, Space Systems Command gave SpaceX a $2.29 billion contract to build a military data network. In July, it added a $1.6 billion order for 18 Falcon 9 launches.

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