- SpaceX shares jumped 7% to $150.84 as investors positioned ahead of the upcoming Starship test 14.
- Tesla also gained 7% to $381.69 amid autonomy optimism and its manufacturing and investment links with SpaceX.
- Rocket Lab and the broader space sector largely missed the rally, suggesting the move was concentrated around Elon Musk-linked companies rather than a wider space-stock surge.
SpaceX and Tesla shares surged Thursday as investors piled into companies tied to Elon Musk ahead of the next Starship test and amid growing attention around the companies’ manufacturing relationship.
SpaceX climbed 7% to $150.84, while Tesla jumped 7% to $381.69.
The strength was notably absent across much of the broader space sector. Rocket Lab gained just 1% to $63.66, while the Procure Space ETF rose only 0.2%.
The SPDR S&P 500 ETF Trust, meanwhile, gained 1%, reinforcing the idea that the sharp moves in SpaceX and Tesla were concentrated rather than part of a broader rotation into space stocks.
Starship Test 14 Approaches
One of the biggest catalysts surrounding SpaceX is the approaching Starship test 14.
SpaceX has indicated that the next flight of its fully reusable rocket could take place within days, although no official launch date has been announced.
Starship stands roughly 400 feet tall and is the largest rocket ever constructed.
The approaching test gives investors another major event to watch, although the lack of a confirmed launch date and the inherent uncertainty surrounding rocket testing create additional risk around the trade.
Tesla Joins the Musk-Linked Rally
Tesla moved alongside SpaceX, gaining 7% as investors continued positioning around the company’s autonomy ambitions and its connections to the wider Musk business ecosystem.
Another focus is the jointly backed $16.8 billion Terafab semiconductor project, which adds another manufacturing link between the companies.
The scale of Thursday’s moves suggests investors were specifically targeting the Musk-linked companies rather than buying the space industry broadly.
The Procure Space ETF’s 0.2% gain was significantly smaller than the rallies in either SpaceX or Tesla.
Rocket Lab Misses the Rally
Rocket Lab remained largely on the sidelines despite recently reporting strong operating results.
The company posted record second-quarter revenue of $234 million, while its backlog increased 137% year over year.
However, RKLB shares gained only around 1% Thursday following a strong post-earnings run.
The divergence highlights how Thursday’s buying was concentrated around SpaceX and Tesla rather than driven by improving sentiment toward launch companies generally.
With Starship test 14 approaching, SpaceX could remain at the center of the trade, while Tesla’s close connection to the broader Musk ecosystem continues to give investors another way to position around the same theme.
