On Monday, SpaceX shares surged nearly 8%, hitting a price of $171.09, the highest level since mid-June. This significant increase followed an analytical note released by Morgan Stanley on Sunday, which described SpaceX’s stock as “cheap” at its current valuation. Analysts highlighted the company’s upcoming AI-based product releases, progress with the Starship program, and new contracts in the field of cloud computing as key factors contributing to the positive outlook.
Last week, SpaceX made headlines by executing several historic launches in one day, including sending a crewed NASA mission to the International Space Station.
Morgan Stanley analysts encouraged investors to purchase SpaceX shares ahead of the next scheduled Starship test flight.
According to Forbes, Elon Musk’s net worth is currently estimated at $1.04 trillion, marking his return to trillionaire status as the stock climbs.
Background
- Musk first became a trillionaire in June following SpaceX’s IPO, with shares closing at a record high of $201.80 on June 16. However, shortly after, the stock began to decline, reaching a low in early August. Since then, it has increased by approximately 58%.
