SpaceX (SPCX) Stock: Kevin O’Leary Eyes Entry as Post-IPO Selling Pressure Eases

TLDR

• Kevin O’Leary skipped the SpaceX IPO allocation but says he may start buying once volatility settles, eyeing the $100-$110 range
• SpaceX Q2 revenue hit $7.81 billion, up 91.9% year over year, beating estimates of $6.9 billion
• EPS loss of $0.09 beat the expected $0.26 loss; Starlink subscribers doubled to 12 million
• SPCX stock has fallen more than 25% since its June 12 debut, with lockup expirations adding selling pressure
• Argus upgraded SPCX to Buy with a $160 price target; the average analyst target sits at $227.31

SpaceX (SPCX) opened at $114.92 on Friday, trading well below its post-IPO highs. The stock has dropped more than 25% since its June 12 debut, hitting a low of $104.83, even as the company delivered a strong first earnings report.

Space Exploration Technologies Corp., SPCX

Q2 revenue came in at $7.81 billion, up 91.9% year over year, beating Wall Street’s $6.9 billion estimate. The company posted an EPS loss of just $0.09, well ahead of the $0.26 loss analysts had expected.

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