SpaceX Contract Falls 6% on Hyperliquid on July 7 Despite Wall Street Bullish Calls

According to Hyperliquid data, SpaceX's SPCX-USDC contract was trading at $151.51 on July 7, down more than 6% in the last 24 hours. The contract saw trading volume exceeding $298.8 million and open interest above $147.9 million within the same period.

SpaceX shares joined the Nasdaq 100 index on July 7. Morgan Stanley set a $300 price target with an overweight rating, while Bernstein issued a $239 target, UBS a buy rating at $210, and Goldman Sachs initiated coverage with a $205 target. The Nasdaq-listed stock declined over 5% to $151.86.