Starship success makes SpaceX shares rocket higher – 120 handle next round

GlobalIntelHub Markets

Global Intel Hub -- Knoxville, TN -- 6/7/2024 -- SpaceX shares spiked higher Friday, with sellers reporting increased demand due to the success of the Starship test launch.  SpaceX is privately traded and operates a number of business lines, including satellite communications, human spaceflight, and custom hardware build outs for SpaceX companies.  SpaceX has contracts with NASA, the US Department of Defense, and even competitor Blue Origin.  However, Starship is their most ambitious and aggressive project, as it will be the largest reusable rocket ever built on this planet.  From CNBC:

  • SpaceX completed a test flight of its Starship rocket for the first time on Thursday.
  • The fourth Starship test flight completed new milestones as SpaceX continues to advance development of the mammoth vehicle.
  • About an hour after the launch, Starship visibly survived reentry through the Earth’s atmosphere and the company confirmed that the rocket splashed down in the Indian Ocean to complete the mission.

Sellers immediately raised prices to match demand, and numbers floating around regarding the August finance event are the 120 handle.  Regardless of what the number actually is, the stock is definitely shooting up like a Rocket.

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