Billionaire Investor Added SpaceX to His Portfolio Right After the IPO

Dan Loeb‘s Third Point opened a position in Space Exploration Technologies Corp. (NASDAQ:SPCX) during the second quarter, holding 180,415 Class A shares worth about $31 million as of June 30.

On June 12, 2026, the Elon Musk-led company debuted on the Nasdaq stock exchange. It made history, closing its first day of trading at $160.95 per share — a gain of 19.22% from its $135 IPO price.

• SpaceX reported second-quarter revenue of $7.81 billion, beating the Street consensus estimate of $6.93 billion according to data from Benzing Pro. The company reported a loss of 9 cents per share, beating a Street consensus estimate of a loss of 24 cents per share.
• The company has revealed the Starlink satellite internet service’s fourth-generation router, promising better connectivity and water-resistant port covers, among other updates.
• The Federal Communications Commission is moving to unlock more than 1,000 MHz of additional spectrum for satellite broadband, putting SpaceX’s Starlink in focus months after an April rule change eased limits on low-Earth-orbit satellite networks.
• SpaceX has reshuffled its data-center leadership after engineering concerns and reliability problems emerged at facilities in Tennessee and Mississippi.
• Musk says that the commercial spaceflight company could exceed $3 trillion in revenue by 2033.
• The company plans to launch orbital data centers into space as early as next year, using its towering Starship rocket. The ambitious project, however, is not without its share of technical and logistical hurdles.
• SpaceX plans to wind down Starlink launches on the Falcon 9 rocket on the East Coast as the company prepares to shift to the Starship rocket.
• Musk said Starlink is deploying Grok Voice “at scale for support & sales,” after SpaceXAI disclosed that its AI voice system now handles more than 15,000 inbound support and sales calls daily and fulfills over 3,000 orders each week.
• SpaceXAI, the artificial intelligence arm of the company, is adopting Nvidia‘s Vera CPUs as Musk touts a more cost-effective, space-optimized Vera Rubin system for orbital AI.
• Norway’s largest sovereign wealth fund, worth $2.3 trillion, has announced a $1.22 billion investment in SpaceX. This marks the first time the fund has publicly disclosed an investment in the company.

Analyst View

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $227.14 (with targets ranging from $115.00 to $800.00 across 47 analysts). Recent analyst moves include:

Recent analyst moves include:

• Wells Fargo: Overweight (Lowers Target to $212.00) (Sept. 8)
• Pivotal Research: Initiated with Buy (Target $220.00) (Sept. 8)
• Oppenheimer: Outperform (Raises Target to $280.00) (Sept. 2)

Communication Services Rotation: Sector Strength Lifts SPCX

SPCX is outperforming its Communication Services peer group today, up 2.70% versus a 0.13% gain for the sector—an outperformance of about 2.58 percentage points. Communication Services also ranks No. 2 out of 11 sectors, making it one of the few places traders are finding relative strength while most groups are red.

Zooming out, the sector has been choppy: down 0.28% over the past 30 days and down 0.62% over the past 90 days. That backdrop makes today’s leadership more notable because it hints at rotation into the group even after a soft multi-month drift.

SPCX ETF Exposure: BCTK, ARKK, and ARKQ Weighting Impact

• Baron Technology ETF (NASDAQ:BCTK): 6.21% Weight
• ARK Innovation ETF (NYSE:ARKK): 6.04% Weight
• ARK Autonomous Technology & Robotics ETF (BATS:ARKQ): 6.98% Weight

Significance: Because SPCX carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

SPCX Price Activity: SpaceX shares were up 1.68% at $150.03 at the time of publication on Thursday, according to Benzinga Pro data.

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