SpaceX Stock Price Forecast as Shares Near 3-Month High Amid Rising Tesla Merger Odds
Highlights
- SpaceX stock price closed Friday at its highest price since early July.
- The gains coincide with Tesla's Q3 delivery report that surpassed analyst estimates.
- SpaceX stock price eyes a move to $165 after breaking above the $151-$154 sell wall.
SpaceX (NASDAQ: SPCX) stock price surged by 7.35% on October 2 to close trading at $158. These gains pushed the stock to its highest price in nearly three months.
Tesla (NASDAQ: TSLA) stock also edged higher on October 2 after the EV maker surpassed Q3 deliveries estimates.
SpaceX Stock Price Soars on Rising Tesla Merger Odds
Data from Polymarket shows that there is a 63% chance that SpaceX will merge with Tesla by December 31, 2027. These odds stood at only 47% on September 10.
CoinGape prediction markets also show that there is a 16% chance that this merger could happen before the end of 2026.
The expectation of the two companies merging in the future could be the reason why SpaceX stock price soared to $158 on October 2 on reports that Tesla’s Q3 deliveries reached 486,532, with this being higher than the analyst estimates of 457,000.
Still, SpaceX had its own bullish news on October 2 after the company launched five missions within six days, with one of them being the launch of Google AI chips into space, as earlier reported by CoinGape.
ARK Invest Remains Bullish on SPCX Shares Despite More Upcoming Unlocks
In a recent X post, ARK Invest noted that SpaceX will likely increase its orbital cargo by 1000 times by 2032.
The fund manager noted that if SpaceX can launch 2.5 million tons into space annually by 2032 as the company expects, it could remain dominant in the space industry.
TD Cowen also recently set a $200 target for SpaceX stock because of the growth potential of AI compute leasing.
These bullish projections come despite two upcoming unlocks in October 2026. On October 9, 328.4 million SpaceX shares will become eligible for selling, after which a similar number of shares will become released on October 24.
SpaceX Stock Forecast as Price Rallies Past Major Sell-Wall
A previous SpaceX stock analysis by CoinGape noted that the price faced a major sell wall between $151 and $154. However, the stock broke this resistance on October 2 amid a surge in buying pressure.
Following this move, SpaceX stock price is now on the verge of making another uptrend towards $165.
The RSI reading of 65 suggests that the bullish momentum is strong after the recent gains. This RSI also shows that SPCX has yet to become overbought despite the price gaining 50% from the August low of $105.
SpaceX support lies at $147, with a move below this price set to invalidate the bullish setup and could result in another downtrend.
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Frequently Asked Questions (FAQs)
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