Shares in SpaceX (SPCX) are down 30% in the last month; however, the rocket company’s first earnings report is keeping investors reeled in. Retail investors have bought SPCX every day since its IPO, and that is continuing after its inaugural earnings report exceeded expectations. Individual investors bought a net $22.7 million of SpaceX shares during the first hour of trading on Wednesday, according to Vanda Research. That was more than three times the stock’s average opening-hour inflow and its third-largest opening-hour haul across 37 trading sessions.
That data also reveals that SpaceX has yet to record a single day of net retail selling since its June 12 debut. Upon launch, SPCX shares did rally quickly, but have since cratered in price. Looking at last week, SpaceX’s first results as a public company gave both sides something to work with. Revenue and adjusted earnings topped expectations, while nearly $16 billion in quarterly spending on AI and data centers underscored the cost of the expansion.
Retail investors treated that spending as a down payment on future growth, and suggest the stock still has surge potential in 2026. Shares of SpaceX (SPCX) already rallied nearly 10% on Friday, extending Thursday’s gains. SPCX shares are heading for their best week since listing and are also on track to record the biggest single-day gains since June 15.
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Per data tracked by JPMorgan analysts, some back-of-the-envelope math shows the average price of those purchases is roughly $150 a share. Including the stock allocated in the IPO, retail shareholders have lost roughly $4.5 billion on SpaceX stock. In Wall Street parlance, that means retail shareholders have been the ones left “holding the bag.” They have endured painful losses partly avoided by institutions selling stock at higher prices.
Per researchers at TipRanks, SpaceX (SPXC) carries a strong consensus rating backed by positive revisions following strong quarterly earnings and increasingly positive investor sentiment. Based on 31 Wall Street analysts offering 12-month price targets for SpaceX in the last 3 months, the average price target is $229.54 with a high forecast of $800.00 and a low forecast of $75.00. The average price target represents a 75.94% change from the last price of $130.46.
