business
Wall Street banks are sky-high about SpaceX, but investors remain cautious
By Damian J. Troise, Associated Press at KPRC 2 / Click2Houston (NBC)
· July 7, 2026
· 3 min read
Wall Street banks have high hopes for SpaceX but at the moment shares of Elon Musk's rocket market appear to be earthbound.Many of the investment firms that underwrote SpaceX's initial public offering issued their first research notes about the company Tuesday, and almost all recommended that inv...
Key takeaway But after topping $200 in its first week of trading, the stock is trading around $152 per share, just above where it opened on June 12, its IPO day.
Why this matters in The Piney Point
As SpaceX's stock price hovers around $152 per share, Houston-area residents may be watching with interest, given the company's significant presence in the region. With its rocket market potential and ambitions for deeper space exploration, SpaceX's success could have a ripple effect on the local economy. The company's dominance in the reusable space rocket market, with its Falcon 9 and upcoming Starship, could lead to increased investment and job creation in the area. Additionally, SpaceX's plans to launch bigger pieces of cargo, including data centers, could lead to new opportunities for local businesses and industries. As investment banks like J.P. Morgan and Raymond James predict significant growth for the company, Houstonians may be wondering what this could mean for the city's thriving tech and aerospace sectors, and how it could further cement the region's status as a hub for space innovation and exploration.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Piney Point surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KPRC 2 / Click2Houston (NBC) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 7, 2026 ·
Source: KPRC 2 / Click2Houston (NBC) ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? Wall Street banks have high hopes for SpaceX but at the moment shares of Elon Musk's rocket market appear to be earthbound.Many of the investment firms that underwrote SpaceX's initial public offering issued their first research notes about the company Tuesday, and almost all recommended that inv...
When was this published? This article was first published on July 7, 2026 by KPRC 2 / Click2Houston (NBC) and curated for The Piney Point readers.
Who reported this story? This story was reported by Damian J. Troise, Associated Press at KPRC 2 / Click2Houston (NBC). To learn more about how The Piney Point selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Piney Point, or browse our daily briefing and topic hubs .
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