SpaceX Surges as Starship Test Looms; Tesla Jumps on Terafab News
Shares of SpaceX and Tesla surged by approximately 7% each ahead of a major milestone for both companies. The rally was driven primarily by anticipation around the upcoming Starship test flight, designated Test 14, which could occur within days at the company’s Texas site. Additionally, investors were reacting to news about Terafab, a $16.8 billion semiconductor project jointly backed by SpaceX and Tesla that is expected to create thousands of jobs. Rocket Lab saw only minimal gains despite reporting record second-quarter revenue and significant growth in its order backlog. The muted response highlights how the market's focus remains concentrated on Musk-linked ventures rather than broader space industry developments. Meanwhile, the Procure Space ETF showed negligible movement compared to SpaceX’s sharp rise, suggesting that Thursday’s rally was more of a two-name trade within Elon Musk’s ecosystem. The SPDR S&P 500 ETF also rose by about 1%, reinforcing the idea that this move is not indicative of broader sector rotation but rather investor optimism around specific high-profile projects tied to SpaceX and Tesla.
Topics: Musk ecosystem Rocket Lab SpaceX Starship test Tesla