Altcoins News
By Maheen Hernandez
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Trump's Investment and the IPO Backdrop. There's another wrinkle that complicates the whole story.
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JPMorgan's $240 Target and the September Unlock. Wall Street had its own things to say Tuesday, separate from whatever Trump was posting.
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SpaceX shares jumped 2.79% Tuesday morning. The timing lined up with a Donald Trump post on Truth Social. But the actual cause? Pretty murky.
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Trump's post touched on Space Force activities — specifically the clearance of mines from the Strait of Hormuz — and gave the agency a shoutout.
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Not really a clean cause-and-effect here.
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SPCX was already up more than 1% in premarket trading before Trump's post even appeared — and the post came mid-morning New York time.
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There's another wrinkle that complicates the whole story. A financial disclosure dated August 22 showed Trump bought between $15,001 and $50,000 in SPCX shares on June 23.
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Trump's history with this kind of thing goes back a while. His 2016 tweet targeting Lockheed Martin directly named the company, criticized its costs, and sent the stock sliding.
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Wall Street had its own things to say Tuesday, separate from whatever Trump was posting. JPMorgan reiterated its $240 price target for SpaceX, pointing to the company's AI…
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SpaceX has had a strong August. Shares are up 24% for the month, already clearing the IPO price. That's the kind of run that gets attention on its own.
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But September is probably the bigger conversation.
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Approximately 370 million insider shares are set to unlock then. That's a massive number. When insider lock-ups expire, markets watch carefully — a flood of shares hitting the…
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The AI angle is worth watching too. JPMorgan's bullish case rests heavily on SpaceX's moves in that space, and the company's ability to leverage its existing government…
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So Tuesday's 2.79% pop had a lot going on underneath it. A Truth Social post that didn't name the company. A stock already rising before the post appeared.
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JPMorgan's average target sits at $228.59 per TipRanks data.
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