SpaceX Stock Bounces Back Toward $135 After Recent Selloff

SpaceX stock is seeing a sharp rally as it moves back toward the $135 mark. This recovery follows a recent drop that took place after the company released its latest earnings report. Traders are responding well to the rebound, which has pushed the price up by 15 percent in the most recent session.

The price movement comes after a period of uncertainty for the stock. Investors had been reacting to heavy spending disclosed in recent financial filings. Market pressure also mounted when roughly 911 million shares became available following the expiration of the IPO lockup period.

Now that the market has absorbed that extra supply, the focus shifts back to the company's valuation. Traders are watching to see if the stock can sustain this momentum and push past its previous price points in the coming days.