SpaceX stock falls back towards $140 as smaller space names leave it behind

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SpaceX suffered its worst blow in a day last Thursday since the beginning of August, when the unlocking of its largest shares allowed up to 1.3 billion shares to be traded. About a week later, he’s back on the same floor, and the rest of the space business has left him behind.

Shares of SpaceX (SPCX) fell again Thursday in premarket trading, along with almost all space stocks.

One-day heat map of space stocks sized by market value. SpaceX, by far the largest, is down about 3%, while Rocket Lab, AST SpaceMobile, Firefly and most others are down 1 to 5%. Spire Global is the only winner.
SpaceX Leads Nearly All Space Stocks Down Wednesday · Yahoo Finance AlphaSpace

Why $140 is the line

$140 has been SpaceX’s floor since the summer. It marked the top of the stock’s August trading range before a breakout, and sits roughly halfway between August’s low near $108 and the $172 high that capped the June and October rallies.

This represents support at $140, a price that buyers have stepped into several times. They’ve done it twice this month, and the title is back there.

Year-to-date candlestick chart of SpaceX from its June debut, with dotted lines at its record close near $212, the high $172, support $140, and August low near $108. The stock fell from its June high to around $108 in early August, rose back to $172 on October 6, and now sits near $144, just above $140.
SpaceX is back at $140, halfway between its August low and the $172 high that capped its June and October rallies. · Yahoo Finance AlphaSpace

Smaller space stocks have surpassed it recently

SpaceX fell about 9% on October 22 when these shares were released.

Since then, the little names have been racing. Rocket Lab (RKLB), Firefly Aerospace (FLY), Intuitive Machines (LUNR) and AST SpaceMobile (ASTS) gained about 8% to 14% between the Oct. 22 close and Tuesday, while SpaceX barely moved.

This rebound follows a much tougher month for the group: Over the past 30 days, these four groups are down around 20-35%, compared to a loss of around 3% for SpaceX.

Bar chart of price changes from October 22 to 27. Rocket Lab rose 13.8%, Firefly Aerospace 13.6%, Intuitive Machines 10.6%, AST SpaceMobile 8.2% and the Procure Space ETF 4.3%, while SpaceX gained 2.6%.
Yahoo Finance

The pullback comes as investors prepare for Anthropic’s IPO, the next mega-listing, with JPMorgan once again set to lead retail stock sales as it did for SpaceX. SpaceX is about a third below its June high, near $212.

An extended break below $140 would open the door for a deeper decline towards the August low near $108. To reverse the trend, bulls must first move back above the 50-day moving average near $150 before launching again to $172.

In-house AI tools helped analyze interview transcripts, research, and write this article. Humans reviewed, edited and fact-checked the material before publication.

Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on @SPYJared or send him an email to jaredblikre@yahooinc.com.

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