SpaceX Stock: Why IPO History Prompts A Double-Upgrade (NASDAQ:SPCX)

Stock Ideas Long Ideas Communication Services SpaceX: Why IPO History Prompts A Double Upgrade Jul 25, 2026, 10:28 AM ET Space Exploration Technologies Corp. (SPCX) Stock , SPCX:CA Stock Mike Zaccardi, CFA, CMT 9.48K Followers Follow 5 Share Save Play ( 8min ) Comments (49) Summary SpaceX is upgraded to a buy after a 51% peak-to-trough decline, aligning with historical IPO drawdown patterns that signal attractive long-term entry points. SPCX now trades 15% below its IPO price; technicals show emerging support at $111, with $102 as a key historical buy zone and $120 as a near-term confirmation level. Despite heavy selling and upcoming share unlocks, I believe the drawdown largely prices in supply risks, with major Wall Street targets (e.g., $300 from Morgan Stanley) remaining bullish. Q2 2026 earnings on August 4 could act as a clearing event, with implied volatility at 115% suggesting a significant price move ahead.