SpaceX took its worst one-day hit last Thursday since early August, when its biggest share unlock yet freed up to 1.3 billion shares to trade. Roughly a week later, it’s back at the same floor, and the rest of the space trade has left it behind.
SpaceX (SPCX) shares were sliding again on Wednesday, along with nearly every space stock.
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 it sits about halfway between the August low near $108 and the $172 ceiling that capped rallies in June and October.
That makes $140 support, a price where buyers have repeatedly stepped in. They did it twice this month, and the stock is back there again.
Smaller space stocks ran past it
SpaceX fell about 9% on Oct. 22 as those shares unlocked.
Since then, the smaller names have done the running. Rocket Lab (RKLB), Firefly Aerospace (FLY), Intuitive Machines (LUNR) and AST SpaceMobile (ASTS) have gained roughly 8% to 14% through Tuesday, while SpaceX barely budged.
The pullback comes as investors gear up for Anthropic’s IPO, the next mega-listing, with JPMorgan again set to lead retail share sales as it did for SpaceX. SpaceX sits about a third below its June record close near $212.
A sustained break below $140 would open the door to a deeper slide toward the August low near $108. To turn the chart around, bulls first need to get back above the 50-day moving average, near $150, before taking another run at $172.
Microsoft (MSFT) and Alphabet (GOOGL) report after the bell. How much more they plan to spend building AI data centers is the number most likely to move a stock that’s now mostly an AI company.
Internal AI tools helped analyze interview transcripts, research, and draft this post. Humans reviewed, edited, and fact-checked this post before publication.
Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc.com.
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