Stock Market Today, Aug. 7: Space Exploration Technologies Surges on Q2 Revenue Beat, Lockup Relief, and Terafab Update
Josh Kohn-Lindquist, The Motley Fool
Sat, August 8, 2026 at 3:49 AM GMT+5:30
3 min read
Space Exploration Technologies (NASDAQ:SPCX), a rocket launch, spacecraft manufacturing, and satellite broadband services provider, closed at $133.11, up 15.83%. The stock rose after lockup fears eased, analysts turned more positive, and the company provided an update on its joint Terafab plans with Tesla. Trading volume reached 236.7M shares, coming in about 91% above its three-month average of 124.0M shares. Space Exploration Technologies IPO’d in 2026 and has fallen 17% since going public
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) rose 0.59% to 7,756, while the NasdaqComposite (NASDAQINDEX:^IXIC) gained 1.28% to 26,686. Among aerospace and defense, launch services, and satellite communications peers, Rocket Lab (NASDAQ:RKLB) closed at $82.83, up 9.46%, and AST SpaceMobile (NASDAQ:ASTS) closed at $71.94, up 6.80%, as launch and satellite-growth names stayed in focus
What this means for investors
Much like yesterday, it’s hard to pinpoint exactlywhat is sending SpaceX shares rocketing higher today, but it is likely a blend of:
time to digest the company’s solid, first-ever earnings report
reduced fears from SpaceX’s first lockup expiration
potential short-covering from nothing negative happening on lockup expiration day
an outline showing the $16.8 billion first phase of a Terafab semiconductor complex in Texas
news that SPCX’s $60 billion deal for AI coding upstart Cursor could close as early as next week
Tons of moving parts to monitor for a company that has seemingly endless growth optionality, so this can be a bit overwhelming. That said, I’m happy to have a small position in the company and will likely make small purchases over time, but am not in a rush to do so — exactly due to the volatility we have seen this week
While I’m encouraged to see the stock’s resilience this week, it nonetheless reinforces the notion that we need to focus on SpaceX’s actual operations more than the circus going on around it, more than ever, if possible
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