Aug. 6 Turned Out to Be a Nonevent for SpaceX. After a 15% Rally, Here's How High the Stock Could Still Climb in the Next 12 Months.

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SpaceX Rally Defies Expectations, But What’s Next?

SpaceX’s strong post-lockup rally suggests confidence despite deep losses and heavy spending.

SpaceX surprised many by rallying nearly 16% when insiders were finally allowed to sell shares, a moment usually bearish. The market seems to be looking past their $4.9 billion loss next year and massive capital expenditure, betting on growth in rocket launches and ambitions like AI data centers. For South African investors, there’s no JSE-listed SpaceX equivalent, making USD/ZAR an important proxy. A stronger SpaceX could attract dollar inflows into tech, supporting the rand against the dollar. But this optimism carries risks: if SpaceX’s spending doesn’t translate to profits or growth, the rally could fizzle, dragging down investor sentiment and pressuring the rand. Given the size of the loss and high cash burn, I’d stay cautious and watch USD/ZAR moves alongside global tech sentiment for clues. this is just our opinion and not financial advice