SpaceX Seen Falling to $100 as 1.55 Billion-Share Unlock Erases AI Value

3 articles · Updated · Yahoo Finance · Aug 6

$100 a share is Morgan Stanley's downside target for SpaceX, implying investors would assign zero or negative value to its AI business after the stock closed near $125 on Aug. 4.
A 1.55 billion-share unlock on Aug. 6 is expected to add selling pressure just after SpaceX's first post-IPO earnings report triggered another roughly 9% after-hours drop.
Shares have already fallen nearly 50% from their $225.64 peak four days after the June 12 IPO as enthusiasm for AI infrastructure spending cooled and doubts over profitability grew.
Adam Jonas said many investors heavily discount Grok and Cursor because of high capital spending, uncertain economics and management attention diverted from Space and Connectivity.
The slide comes despite operational progress including Starship's 13th test flight on July 24, underscoring how investor focus has shifted from launch milestones to AI spending and share supply.