SpaceX shares have rebounded to near their $135 initial public offering price after the company reported better-than-expected second-quarter revenue last week. The stock, which had been trading below that level for weeks, moved above its IPO price for the first time in almost a month during recent sessions, according to MarketWatch. CNBC places the shares near $135, noting the rebound follows last week's earnings report, which showed revenue that topped expectations.
The recovery has been gradual, with shares clawing their way higher in recent days, but they remain well off their highs. The positive earnings report appears to have boosted investor confidence after a prolonged slide. The brief move above the IPO price marks a psychological milestone, though it is unclear whether the stock can sustain the gains.
Both reports describe the climb as a slow comeback rather than a sharp rally. Trading has been active as investors reassess the company's growth prospects. The stock's ability to hold near this key level in the coming sessions will likely determine whether the rebound continues.