SpaceX shares rose in premarket trading on Wednesday, extending a recovery that followed a NASA lunar cargo selection. The stock now trades above its $135 IPO price, and Starship's November 13 flight is the next key test.
SpaceX shares rose 3.36% in premarket trading on Wednesday to $147.90, up $4.81 from the previous close of $143.09. The move adds to a recovery that began after NASA picked the company for its lunar cargo programme.
The stock jumped about 6% on Monday after SpaceX was named one of eight firms eligible to compete for up to $10 billion in moon delivery missions over ten years under CLPS 2. Rocket Lab also rallied despite missing out.
Even if SpaceX won the full amount, it would earn about $1 billion a year, less than the roughly $1.12 billion it made in an average week of the third quarter.
Elon Musk said government work will make up less than 10% of revenue this quarter, down from 16.6%, as AI computing and Starlink drive growth. The stock is now well above its $135 IPO price, with Starship's November 13 flight the next key test.
Source: Coinpedia Fintech News
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