After crashing 31.21% from $157.54 to $108.37 through July and soaring 32.59% to $143.69 in August, SpaceX (NASDAQ: SPCX) stock slowed down in September and, by the October 1 close, rose only another 3.05% to $148.07.
Following such performance, SPCX shares remain 6.01% below their price three months ago despite the recovery.
Thus, any investor who decided to put $1,000 on July 1, hoping the correction would be short-lived, would have lost $60.10 and seen their position diminish to $939.90 by the most recent closing bell.
Waiting until press time in the October 2 pre-market would not have substantially changed the situation, as SPCX stock is changing hands at $149.59 – only 1.03% up from the Thursday close – meaning the $1,000 would have turned into $949.54.
What is next for SpaceX stock in 2026?
Meanwhile, SpaceX shares have, in recent weeks, suffered from an apparent lack of meaningful catalysts, arguably because many of the milestone events, such as major index inclusions, got priced in ahead of time.
Specifically, investors failed to react to the groundbreaking Starship Flight 14 and, with Elon Musk predicting the firm’s next highly advanced artificial intelligence (AI) model would not arrive for at least two months, bearish pressure appears more likely in October than bullish.
Still, SPCX equity has also been insensitive to adverse developments. The substantial retail selling pressure seemingly had little bearing during the late June and July downturns and the August and September rallies.
Similarly, the September 24 revelation that company COO Gwynne Shotwell dumped $52 million worth of SpaceX stock in a September 22 insider trade hardly moved the price.
Overall, it appears that the tension between the exceptionally high valuation for an unprofitable firm and the stellar hopes for its future will remain the driving force for SPCX shares’ performance.
Notably, the next round of insider unlocks and the Starship Flight 15 and 16 rocket launches could prove to be wildcards, though historical performance still leaves the odds of them turning into significant catalysts low.
One exception could come with SpaceX’s next earnings report – expected in November – considering the previous such filing helped kickstart the August SPCX stock price upsurge.
What will happen to SPCX stock price in 2027?
Looking ahead, the volatility that took SpaceX stock to highs at $225.64 and lows at $104.83 in just a handful of months had little impact on Wall Street analysts’ attitudes.
SPCX shares are considered a ‘Buy’ and are, on average, expected to rally 50.63% to $223.04, per the data Finbold retrieved from TradingView on October 2, meaning all investors who put their money into the company in the last three months can expect their positions to turn profitable by late 2027.
However, Elon Musk revising his forecast for the number of launches in 2027 from one each day to between one and two per week in late September could significantly alter the long-term bull case and turn the valuation into a more dominant bearish driver.
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