SpaceX shares climbed 9.65% to $146.15 on Wednesday, extending a five-day advance that's now approaching 40%. The rally is being driven by Elon Musk's ambitious AI revenue prediction, and investors are watching whether the momentum can push the stock past $150.
The AI revenue bet
Musk's prediction about future AI revenue has become the central catalyst for the recent surge. The exact figures or timeline he laid out haven't been disclosed, but the sheer scale of the forecast has been enough to draw buyers into the stock. Traders are betting that SpaceX's AI ambitions could open a new revenue stream, even though the company's core business remains space launch and satellite operations.
The move comes as AI-related stocks across the market have seen heightened interest, but SpaceX's jump stands out for its speed. A 9.65% single-day gain is notable for a company of its size, and the five-day cumulative move of nearly 40% has put the stock in a league of its own this week.
A five-day climb
The rally started quietly, but each session has added to the gains. From the start of the week, the stock has risen steadily, with Wednesday's jump accelerating the pace. The advance has been broad-based, with volume picking up as more investors pile in.
Before Thursday's opening bell, shares added another 0.48%, reaching $146.85. That pre-market move suggests the buying isn't done yet, though the pace has slowed from the previous day's surge.
The $150 test
The next level to watch is $150. Investors are evaluating whether the rally has enough fuel to break through that psychological barrier. A close above it would mark a fresh milestone and could attract even more momentum-driven buying. But a failure to reach it might prompt some profit-taking after such a steep run.
Thursday's session will show whether the pre-market gain holds and if the stock can approach the $150 mark. The answer will depend on whether Musk's AI revenue prediction continues to resonate with buyers or if the market decides the move has gotten ahead of itself.
