SpaceX Stock Jumps 16% and Returns to IPO Price

SpaceX stock is on a serious hot streak, climbing as much as 16 percent over the last five days and bouncing right back to its initial public offering price. This recent rally comes even as a major lockup expiration made hundreds of millions of shares eligible for trading. Traders who bought the dip last week are already seeing strong gains.

Wall Street sentiment remains largely positive following an earnings report that beat expectations. Argus Research upgraded the stock to a buy with a 160 dollar target, while Morgan Stanley kept its aggressive 300 dollar target in place. Other major firms including JPMorgan, UBS, and Oppenheimer also maintain strong bullish ratings.

Only a few banks trimmed their targets due to capital spending concerns and upcoming share unlocks. Retail buyers continue to show steady demand for the Elon Musk led company. Markets will watch to see if SPCX can hold these gains as more shares become tradable later this year.