SpaceX Stock Forecast Ahead of Nasdaq 100 Inclusion on July 7

Key Insights

• SpaceX stock price has rebounded in the past few days.
• The company will be added on the Nasdaq 100 Index next week.
• It has also become a large player in the neocloud industry.

SpaceX stock price has rebounded in the past few days, moving from the year-to-date low of $147.23 to the current $171. This rally may continue ahead of July 7, when the company will be added to the Nasdaq 100 Index on July 7.

SpaceX shares have recovered from their recent lows, rising from about $147 to $171. Investors are now watching whether the rally can continue ahead of the company’s planned inclusion in the Nasdaq-100 Index on July 7.

SpaceX Stock Eyes Nasdaq-100 Inclusion

SpaceX shares have rebounded as investors bought the recent pullback following the company’s initial public offering.

A major catalyst is the company’s planned addition to the Nasdaq-100 Index. The inclusion is expected to generate demand from index-tracking funds and exchange-traded funds that replicate the benchmark.

Because only a small portion of SpaceX shares currently trade publicly, additional institutional demand could support the stock in the short term. Market estimates suggest index funds may purchase billions of dollars’ worth of shares, although the exact amount varies among analysts.

History shows that index inclusion often provides a temporary boost. However, several recent additions, including Astera Labs, CoreWeave, and Nebius, later gave back part of their initial gains after joining the benchmark

SpaceX is Becoming a Major Player in the Neocloud Industry

The SPCX stock price is also soaring after the company added another business line in its portfolio. While SpaceX is known for its satellite launches and Starlink service, it has now become a large player in the neocloud business.

Neoclouds are companies that operate data centers and then offer the service to other firms. SpaceX recently reached a large deal with Google, in which the latter will pay it over $900 million a month. Google still owns a large stake in SpaceX.

The company also inked a deal with Reflection AI. It will receive $150 million a month starting from today from Reflection. Anthropic will also be paying SpaceX $1.25 billion per month, giving it access to 220,000 Nvidia GPUs. These deals will give SpaceX regular cash flow that it can use to fund other projects in the long term.

The challenge, however, is that the neocloud business is highly expensive. This likely explains why the company recently raised $20 billion in cash by selling its bonds.

SpaceX stock has also jumped after its recent acquisition of Cursor in a $60 billion deal. Cursor has become one of the fastest-growing companies in the United States, with its annualized revenue hitting $4 billion in May after hitting $3 billion in April and $2 billion in February.

This growth happened as it continued adding more customers, including Stripe, Monday.com, Carlyle, and Coinbase. More companies will likely become clients because of the potential savings.

SpaceX Share Price Technical Analysis

The hourly chart shows that the SPCX stock has rebounded in the past few days. It has risen from the post-IPO low of $156 to $170 today. A closer look shows that it has crossed the 23.6% Fibonacci Retracement level, confirming the bullish breakout.

The stock has also risen above the 50-period exponential moving average, while the Relative Strength Index (RSI) has risen and is approaching the overbought level of 70. Therefore, the stock will likely keep rising in the near term, potentially to $186, the 50% retracement level. However, there is a risk that it will drop after the Nasdaq 100 Index inclusion as investors sell the news.

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