The relentless stock fade for SpaceX (SPCX) showed no signs of slowing down. After shares staged a brief rally on July 22, the stock fell steadily from $125 to close at $115.26. Markets continue to price in the risk of restricted shares coming to the market.
Investors who bought the stock at $135 - $150 will worry when shares might stop falling. Traders who did not start a position or hold options to bet on the stock finding support at $70 - $115 are watching SPCX stock closely.
Any changes in fundamentals are failing to lift the stock. On July 22, the firm announced Cursor Router. This is an intelligent model router that automatically routes requests to the most suitable AI model. It is supposed to save the user money. This feature, however, did not impress investors. A user could sample different models on Microsoft’s (MSFT) Copilot. Ollama software lets users choose different AI models, too. The difference is that the user decides on the AI model.
The Information reported that SpaceX plans to expand its data center in Texas. That would widen its geographical locations. It has Colossus data centers in Memphis, Tennessee.
Investors who wanted to trade rocket ship and satellite companies opted to buy Viasat (VSAT), AST SpaceMobile (ASTS), and Rocket Lab (RKLB). They might wait for the lockup pressure on SpaceX stock to end in the next few months before taking a position.
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