SpaceX Stock Rises 0.2% Overnight Despite 7% Nasdaq-100 Debut Slump; ARK Buys $6.6M in SPCX, Starlink Doubles Aviation Prices

SpaceX shares rose 0.2% overnight on July 7-8 despite the stock's disappointing 7% decline on Tuesday during its Nasdaq-100 debut, according to market data. SPCX closed at $149.47, remaining above its $135 IPO price but falling 25.8% below its June 16 high of $201.80. The Nasdaq-100 inclusion, which was expected to trigger forced buying from index-tracking funds managing approximately $800 billion in assets, failed to spark the anticipated rally.

Cathie Wood's ARK Investment Management continued accumulating SpaceX shares on Tuesday, with the ARK Innovation ETF (ARKK) purchasing 44,196 shares worth approximately $6.6 million. Wall Street remains constructive, with average analyst price targets near $236 (58% upside from Tuesday's close). Deutsche Bank initiated coverage with a Buy rating and $255 price target, while Cantor Fitzgerald began with an Overweight rating and $246 target. Separately, Starlink doubled prices for Business Aviation customers, effective immediately for new customers on Tuesday. The Aviation Regional 25GB plan increased to $4,000 per month from $2,000, while the Aviation Global Unlimited plan rose to $20,000 from $10,000.