SpaceX (NASDAQ:SPCX) stock has managed to gain nearly 12% so far in September, trading at $152, comfortably above the initial public offering price (IPO) of $135 on June 11. With SpaceX share unlocks approaching, however, investors are trying to predict how the price will move early in October.
Namely, the debut placed about 639 million shares into public circulation, roughly 4.9% of the total float. The number is expected to reach 22.6% on October 9 after climbing to 20.1% on September 24.
As new shares entering the market can potentially impact SpaceX prices, we asked OpenAI’s chatbot, ChatGPT, to predict SpaceX stock price after the October 9 share unlock.
ChatGPT sets SpaceX stock price target on October share unlock day
Notably, the chatbot’s prediction for October 9 sees SPCX shares trading roughly in the $ 145-160 range in the base case. This suggests the price could drop or climb 5% from the current levels, and ChatGPT actually singled out $150 as the most likely target, implying a slight 1.32% dip.
ChatGPT predicts SpaceX stock price after October SPCX share unlock. Source: Finbold and ChatGPT
Of course, the forecast is a scenario-based estimate rather than a definitive price target, as the amount of shares actually sold following the unlock remains uncertain. Under a stronger-demand scenario, for example, ChatGPT sees SPCX potentially reaching $165-$175, while heavier selling could push the stock toward $130-$142. A more severe risk-off scenario could send shares as low as $115-$125.
ChatGPT also noted that SpaceX is expected to make up 2.82% of the NASDAQ 100 after quarterly rebalancing, which could counterweigh selling pressure. The interaction between newly unlocked shares and NASDAQ moves could, therefore, be an important factor in determining SPCX’s direction around the event.
Featured image via Shutterstock
