SpaceX Stock Reaches IPO Price as Pentagon Confirms Development of Space-Based Weapons
Shares of SpaceX (NASDAQ:SPCX) rose by 5.1% to $151 on Wednesday, reclaiming the price at which it opened following its June IPO priced at $135. The surge was driven by confirmation from U.S. defense officials that space-based weapons are being developed as part of a multibillion-dollar program tied to SpaceX's Starshield contracts with the Space Force. The Pentagon’s FY 2027 budget includes a $17.9 billion line item for the Golden Dome initiative, which involves advanced sensors and interceptors linked to SpaceX’s low Earth orbit (LEO) satellite infrastructure. This development has positioned SpaceX as a key player in building national security space systems. In Q2, SpaceX reported revenue of $7.81 billion—beating estimates by 15%—with Starlink subscribers doubling to 12 million and enterprise/government revenue rising sharply due to airline partnerships and defense contracts.
Topics: defense contracts Golden Dome Pentagon SpaceX Starshield