SpaceX Stock Outlook as Elon Musk Fuels Tesla Merger Speculation After Q2 Earnings Miss

SpaceX (NASDAQ: SPCX) stock price dropped by 6% on July 22 to close trading at $115. The drop occurred despite rising odds that SpaceX might merge with Tesla after CEO Elon Musk failed to dismiss the rumours about this merger during Tesla’s Q2 earnings call.

Musk Fuels Speculation of a Tesla and SpaceX Merger

Musk was speaking at Tesla’s earnings call on July 22, where he received questions about whether SpaceX could eventually merge with Tesla. In his response, Musk said that the two companies overlap each other, but it was not the right time to talk about a merger,

“We can’t ​talk about, you know, combining companies and that kind of thing on an earnings call. It’s ​got to be done with the appropriate process,” Musk said.

CoinGape had earlier reported that JPMorgan sees a merger between SpaceX and Tesla to be strategically coherent, because the two companies overlap in AI and Starlink.

Musk’s recent statement also came as Tesla reported an earnings per share of $0.33 for the period between April 2026 and June 2026. This was lower than the expected earnings per share of $0.50 causing Tesla shares to drop by 5% in pre-market trading at the time of writing.

Still, Tesla’s revenues beat expectations after reaching $28.24 billion during the quarter, higher than the estimated $26.32 billion.

SpaceX Stock Crashes to An All-time Low

SpaceX stock price has dropped to an all-time low of $115 despite some experts remaining bullish on the stock.

The shares are now down by 45% from the June 16 high of $225. This drop has wiped out more than $1 trillion from SpaceX’s market cap.

The RSI reading of 28 on the two-hour chart suggests that the momentum is still favoring bears and SpaceX stock price might drop to the 123.8% Fib of $89.

The CMF reading of -0.22 also suggests that there is more selling pressure than buying pressure, and this could also pull the stock to $89.

But analyst Danny notes that the stock is bottoming out because traders are starting to buy during the dip, and this might push the stock to $160.

Danny’s outlook comes as retail traders purchase $320 million worth of SpaceX shares in July 2026 per data from Barchart.

ARK Invest Scoops More SPCX Shares Amid Cathie Wood’s Bullish Bet

ARK Invest purchased 121,384 SpaceX shares on July 22. This purchase comes shortly after the company bought another $20 million SPCX stock on July 20.

ARK Invest CEO Cathie Wood is bullish on this investment, saying that SpaceX might become “the most important company.” In an interview with FOX Business, Wood said that Starlink’s dominance over 70% of satellites makes SpaceX a major player in the communications sector.

The founder of ERShares, Joel Schulman, also notes that SpaceX might overtake Nvidia and become the biggest company in the world by 2031 because of how it has brought together three services under one umbrella: Starlink, AI and rockets.