SpaceX Stock Falls 9% to $174.23 on Thursday as Analysts Maintain Bullish Outlook

According to market data, SpaceX (SPCX) stock fell more than 9% to $174.23 on Thursday, extending losses from the previous session as broader market sentiment weakened. The decline follows an all-time high of $212.40 reached on June 16, when the company briefly surpassed a $2.75 trillion market capitalization.

Despite the pullback, Arete analyst Andrew Beale initiated coverage of SpaceX on Thursday with a buy rating and a $401 price target, reflecting Wall Street's continued optimism about the company's position in reusable rockets, satellite communications, and emerging artificial intelligence infrastructure.