SpaceX shares jump 4.15% as Wedbush rates Outperform, rolls out half-price Starlink
SPCX•Wedbush initiated an Outperform rating on Space Exploration Technologies as shares rose 4.15% to $170.86, highlighting a $60 billion AI acquisition and a $6.3 billion contract. SpaceX launched half-price Starlink service in Memphis at $27.50–$65 monthly with no hardware costs during community backlash over its gas-turbine data center.
1. Outperform Rating Boosts Shares
Wedbush initiated coverage with an Outperform rating on Space Exploration Technologies, driving shares up 4.15% to close at $170.86 per share. The rating reflects confidence in the company’s diversified space launches, Starlink satellite internet and growing AI business.
2. Aggressive AI Expansion
Space Exploration Technologies completed a $60 billion acquisition of AI coding company Cursor and secured a $6.3 billion contract to enhance its Grok AI software. These moves contribute to its $2.23 trillion market capitalization and underscore investor expectations despite ongoing unprofitability.
3. Half-Price Starlink Service in Memphis
The company launched discounted Starlink plans in Memphis—$27.50–$65 per month with no upfront hardware costs—as it navigates community opposition to its gas-turbine data center. Space Exploration Technologies has agreed to resume construction on a recycled wastewater plant to address environmental concerns.
