Just short of two months ago, on Monday, September 14, SpaceX (NASDAQ: SPCX) stock appeared to have entered a consolidation phase following the large rally it had enjoyed since early August.
Despite the hopes that SPCX shares would soon continue their climb, investing $10,000 in the equity at the time would have led to a moderate unrealized loss. Indeed, SpaceX stock was changing hands at $148.15 two months ago while, at the latest, November 12 close, it stood at $139.94.
Given the performance, a $10,000 investment in SPCX made on the evening of September 14 would have declined 5.54% – lost $554 – and led to a position worth $9,446.
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The Friday, November 13, pre-market rally of 0.31% that took the stock to $140.38 would have diminished the losses slightly and would have led to the original $10,000 SpaceX stake being worth $9,475.53.
Simultaneously, despite the SPCX rally not resuming as many had hoped in September, the equity has been performing relatively well considering the state of the wider stock market in recent weeks.
SpaceX stock price performance in the last two months
Specifically, the U.S. midterm elections brought in substantial volatility as the radical change in the makeup of Congress led most investors to reevaluate what the economy and the equity markets might look like through the remainder of 2026 and in 2027.
Simultaneously, the growing fears that the artificial intelligence (AI) boom has turned into an AI bubble have been growing more pointed in the second half of the year, while the series of scandals affecting Nvidia (NASDAQ: NVDA) and its now-former CEO Jensen Huang provided perhaps the most dramatic episode for big tech in recent memory.
For SpaceX, the period was, arguably, particularly risky – and, therefore, demonstrated the resilience of the stock – considering that Elon Musk is himself expected to face a probe that appears serious enough for President Donald Trump to consider a pre-emptive pardon.
After an initial reaction to the developments that saw a steep early-November correction, SPCX maintained its support and managed to rally 13.20% from the recent lows near $123.62, despite the prevailing turmoil.
Featured image via Shutterstock
