Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingSpaceX shares fell about 2.5% to close at $115.26 on Friday due to another postponement of its starship test mission. HSBC covered the stock for the first time, giving a hold rating and a price target of $115, which runs counter to the generally bullish sentiment on Wall Street. The 13th starship mission has been postponed twice in a row-first due to propulsion system complications and later due to unfavorable weather conditions. Since its June public offering, investors short the company have accumulated unrealized gains of approximately $15.5 billion. The company is scheduled to announce its first quarterly results on August 4, and analysts will pay close attention to the growth in Star Chain users.
Key Points
SpaceX shares fell about 2.5% on Friday to close at $115.26 due to another postponement of its starship test mission. HSBC covered the stock for the first time, giving a hold rating and a price target of $115, which runs counter to the generally bullish sentiment on Wall Street. The 13th starship mission has been postponed twice in a row-first due to propulsion system complications and later due to unfavorable weather conditions. Since its public offering in June, investors short the company have accumulated unrealized gains of approximately $15.5 billion. The company is scheduled to announce its first quarterly results on August 4, and analysts will pay close attention to the growth in Star Chain users.
HSBC takes a different path from Wall Street consensus
HSBC's hold rating contrasts sharply with general market sentiment. As of Friday morning, 28 of the 37 analysts covering the stock, or approximately 76 percent, maintained a buy rating. The consensus price target is approximately $237 per share. For reference, typical buy ratings among S & P 500 stocks range from 55% to 60%. Curt Collison recognized SpaceX's achievements but advised investors to be cautious. He pointed out that shares could face downward pressure as the lock-in period for early investors expires in the months after the June public offering. The upcoming earnings report on August 4 is the next key milestone. The analyst emphasized that SpaceX must demonstrate strong growth in its Star Chain business to support the upward trend of its stock price.
Short-dominated trading activity after IPO
Bear investors have maintained aggressive positions. Since the public offering, approximately $15.5 billion in mark-to-market gains have been generated, and approximately 360 million shares of SpaceX stock (approximately 56% of free float) are currently borrowed by short sellers. After soaring more than 19% for two consecutive trading days after the IPO, SpaceX shares have fallen in 17 of the last 26 trading days. These included seven consecutive trading days of declines that ended Tuesday, followed by a 6.7% plunge on Wednesday. Alphabet disclosed a large investment in SpaceX this week, reporting that its holdings were worth approximately $94.1 billion as of the end of June-although subsequent declines in SpaceX's share price have shrunk the investment's current market value. SpaceX's Falcon 9 rocket maintained a more stable performance. The company successfully deployed 24 Starlink satellites from its California facility on July 21, a day after a launch ended abnormally at the last minute.
