After a sluggish first month for the stock on Wall Street, Elon Musk’s SpaceX (SPCX) has seen its stock value climb 16% in the last 30 days. The company’s first earnings report helped spark the recent rally and led to several firms on The Street raising their price forecasts for SPXC stock. However, the company’s mastermind, Elon Musk, may have just given a hint that could serve as the biggest buy signal for the stock yet, even after its latest 1-month surge.
Indeed, SpaceX CEO Elon Musk says he believes the space economy will be “much bigger” than $1.8 trillion by 2035. In a response to another user on X Tuesday that suggested a “Second Space Age” is imminent, Musk implied that this one will be much bigger. Following up on that post, Musk also agreed with another user that said the space economy should probably be thought of as an order of magnitude greater (or two) than it currently is. This is in large part because it will be absolutely necessary for the continued scaling of AI compute and power.
As one of the superpowers of present day space research and exploration, this puts SpaceX in the driver seat to help lead that surging space economy that the X user suggests is coming. Hence, SPCX could benefit from its own market capitalization and value growing, sending shares higher. Further, Elon Musk’s revised SpaceX revenue target of $1 trillion by 2030 underscores ambitious growth plans, though analysts project significantly lower figures, with expectations of $184.5 billion by 2028.
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Furthermore, the latest 13F quarterly SEC filing sheds light that 5 billionaires have bet big on SpaceX stock. The rich list is focused on space exploration and expects it to be the next frontier. The company currently dominates the satellite communications sphere, with Amazon conceptualizing a similar idea. While the competition could take years to form, the Elon Musk-led company currently enjoys a monopoly in the sector.