Yahoo Finance
SpaceX(SPCX) stock is back trading near $140, up nearly 5% over the past week, as investors find new reasons to bet on Tesla(TSLA)CEOElon Musk's newest public-market heavyweight.
Also, the latest 13F filings are only adding to the fuel.
AIbehemothNvidia(NVDA)disclosed 122.76 million SpaceX shares worth nearly $21 billion on June 30, according to13f.info.
At the same time, Alphabet(GOOG)reported 551.2 million shares valued at nearly $94.2 billion, according to13f.info.
That's some insane institutional firepower behind a stock that hasn't left the spotlight since its earth-shattering June debut.
As we look ahead, nearly 320 million restricted shares will become eligible for transfer on August 20.
For context, the last lock-up release on August 6 was much bigger, at 911.5 million shares, yet the feared selling wave never came, as reported byCNN.
Instead, SpaceX jumped back above its $135IPOprice.
Nevertheless,Wall Streetremains bullish, slapping an average price target of around $227, implying 62% upside according toSeeking Alpha.
That's what makesfive-star Phillip Securities analyst Glenn Thum'snote particularly interesting, putting a very different number on SpaceX stock compared with the bulls.
Phillip Securities analyst Glenn Thum just took Wall Street's most bearish stance on SpaceX stock.
Thum kept a Sell rating and a $75 price target, implying 46% downside from the stock's current price near $140.
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| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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