TLDR
- SpaceX ranked fourth on JPMorgan’s list of most hyped stocks on social media, behind Lithium Americas, Boyd Gaming, and Advanced Micro Devices.
- SPCX stock fell 4% in early trading Thursday and sits 14% below its IPO price of $135.
- The company’s AI unit spent $15 billion on capital expenditures last quarter, up from $7 billion the quarter before.
- SpaceX plans to launch Starship’s 14th flight on Sept. 28, its first attempt to reach orbit.
- JPMorgan’s hype ranking doesn’t line up with short interest, meaning social buzz doesn’t predict who’s betting against a stock.
SpaceX stock slipped about 4% in early Thursday trading, changing hands near $148. The move came a day after JPMorgan analyst Arun Jain named the company one of the most talked-about stocks on social media right now.
Space Exploration Technologies Corp., SPCX
SPCX ranked fourth on that list, trailing Lithium Americas, Boyd Gaming, and Advanced Micro Devices. Insight Digital Partners II, Rocket Lab, Meta Platforms, Kodiak AI, Atlas Energy Solutions, and Micron Technology rounded out the rest of the top 10.
It’s a mixed group. Market values on the list range from roughly $200 million up to SpaceX’s $2 trillion valuation, and the industries span everything from energy services to chipmaking.
Elon Musk tends to draw a crowd, and JPMorgan’s report backs that up. Whatever the CEO touches seems to end up trending.
What the Hype List Actually Tells Investors
Jain’s data found no real link between social media buzz and short interest, which is the percentage of a stock’s tradable float that’s been borrowed and sold by investors betting on a decline. Some names on the list, like Insight Digital, have almost no short interest. Atlas Energy, by contrast, has more than 30% of its float sold short.
The 10 stocks on the list were up about 6% on average over the past month, well ahead of the S&P 500’s sub-1% gain. But the spread was wide. AMD climbed 34% over that stretch, while Kodiak dropped 21%.
The takeaway for traders is simple: heavy social chatter tends to bring more price swings, not a clear direction.
SpaceX’s own stock chart tells a rougher story than the hype headline suggests. The company completed the largest IPO on record earlier this year, raising more than $85 billion and debuting with a trillion-dollar price tag that put it alongside Nvidia and Amazon on day one.
Since then, the stock has cooled off. It opened at $150, and Thursday’s price puts it about 3% below that mark and 14% under its original IPO price of $135.
The Spending Behind the Growth Story
SpaceX runs three business lines: rockets, Starlink connectivity, and an AI unit building data centers in orbit. All three lean on each other, and all three cost money.
The AI division alone spent $15 billion in capital expenditures last quarter. That’s more than double the $7 billion spent the quarter before, and it dwarfs the roughly $700 million spent in the same period a year ago.
Revenue hasn’t kept pace with that spending yet. The AI unit brought in $2 billion last quarter, while the whole company posted $7.8 billion in revenue. The bigger spending has widened SpaceX’s losses.
On the rocket side, SpaceX says two completed Starship V3 test flights in August put it on track for full reusability. The company is targeting Sept. 28 for Starship’s 14th flight, its first attempt at a full orbit around Earth.
That mission will also carry Starlink V3 satellites, meant to boost the connectivity network’s speed. Coming into Thursday, S&P 500 futures were down 0.5% and Dow futures were down 0.3%, a quiet broader market backdrop for SPCX’s move.
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