SpaceX stock climbs to highest since June, returning Musk to trillionaire status

Elon Musk, chief executive officer of Tesla Inc., during a state dinner with Chinese President Xi Jinping, not pictured, in the East Room of the White House in Washington, DC, US, on Thursday, Sept. 24, 2026.Annabelle Gordon | Bloomberg | Getty ImagesSpaceX shares rose almost 8% on Monday, reaching their highest since mid-June, shortly after Elon Musk's company held its record initial public offering. With the rally, Musk is once again a trillionaire. The jump followed a Sunday note from Morgan Stanley analysts, who called SpaceX "cheap" at today's prices, and highlighted "future AI product releases, Starship progress, and additional neocloud contracts." They recommend buying the stock and have a $300 price target, representing an increase of about 75% from Monday's $171.09 close. Late last week SpaceX conducted multiple historic flights in a single day, including sending a crewed mission for NASA to the International Space Station, and a separate launch of Google AI chips into orbit. The Morgan Stanley analysts suggested investors buy SpaceX shares before the company's next planned test flight for its massive Starship rocket, and ahead of its third-quarter earnings report expected...