SpaceX (NASDAQ:SPCX) shares are set to open above their initial public offering price of $135 per share on Monday, as the stock climbed 4.31% to $139.05 in premarket trading.
Monday’s gains followed a 15.83% bump on Friday, per Benzinga Pro data.
- SPCX stock is climbing. See the chart and price action here.
Gary Black Flags SpaceX’s Sharp Swings
SpaceX’s recent moves have drawn attention from investors like Gary Black, who said he remains cautious about the stock’s volatility. On Friday, Black said SpaceX shares surged to $200 before dropping 45% in 60 days.
He argued the swings support his cautious approach, even as other investors stay bullish. Black said a single-day surge does not counter his thesis and urged careful analysis over speculative claims. Black’s comments come as investors debate the stock’s true valuation.
Adam Jonas Pitches a Bigger Upside Case
Morgan Stanley’s latest note lays out the bull case.
On Thursday, analyst Adam Jonas called SpaceX a "potential generational compounder" and said the stock could nearly triple by mid-2027.
He tied that view to SpaceX’s AI, launch, and satellite-connectivity assets, adding that SpaceX avoided the selloff some expected around a $101 billion lockup expiration.
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