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Ad Home / Price Analysis / Is SpaceX Stock a Buy at a Record High? Is SpaceX Stock a Buy at a Record High? 06 Oct, 2026 Updated 06 Oct, 2026 By Muthoni Mary Muthoni Mary
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling. Read full bio Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
SpaceX (NASDAQ: SPCX) gained 7.6% on October 5 to close trading at $171, its highest level since July. The gains come on the back of bullish macro data, including softer-than-expected jobs data and a bullish note by Morgan Stanley
However, amid aggressive buying pressure for two straight days, investors question whether it is still the right time to buy SpaceX shares and whether the uptrend is sustainable
SpaceX stock price is now up by 14% in just two trading days. One of the main triggers of this gain is the US nonfarm payrolls data released last week that revealed that US job growth slowed more than expected
The soft data reduced the odds of the Fed hiking interest rates to 20%, per data from CoinGape prediction markets. A dovish Fed is usually bullish for risk assets such as SpaceX stock
Prior to the jobs data release, the US PCE inflation also fell to 3.3%, which was also lower than expectations, further making a bullish case for SPCX
Morgan Stanley is also behind the recent SpaceX stock rally after the investment firm reiterated an overweight rating on the stock and a $300 price target, as earlier reported by CoinGape
Morgan Stanley analyst Adam Jobas notes that some factors that could fuel more gains for the shares include Q3 earnings results, the upcoming Starship flights, and Grok upgrades
Despite SpaceX shares rallying to a three-month high of $171, bullish catalysts lie ahead that suggest the stock is still a buy
Tesla will release its earnings for Q3 2026 on October 21, and the earnings could be bullish for SpaceX stock if they surpass estimates
Last week, Tesla reported Q3 deliveries of 486,532 that beat the Wall Street estimate of between 457,000 and 463,000. Those results fuelled slight gains for SpaceX shares
SpaceX, which beat Wall Street estimates in its Q2 earnings, will also release its earnings for Q3 2026 in early November
SpaceX is set to launch Starship test flight 15 before the end of Q4 2026, with this launch coming shortly after the company’s first orbital flight
The October 28 Federal Reserve Open Market Committee (FOMC) meeting could also fuel more gains for the shares in Q4 if the Fed appears dovish
While these three factors suggest SpaceX stock remains a buy, two upcoming unlocks on October 9 and October 24 could derail the rally. 328 million SpaceX shares will become eligible for sale for the first time on these two dates
SpaceX stock price is up by 1.3% in pre-market trading today, October 6
The RSI at 68 shows strong bullish momentum. The ADX line that is tipping north also shows that the uptrend remains strong
The stock has also moved above the resistance at $171.74 and needs to close above it to confirm another bullish leg to $192
On the downside, profit-taking could push SpaceX stock price lower to test the support at $158. A breakdown of this support could push the shares to the June low of $152
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3. How high could SpaceX stock price go?
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
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