Why SpaceX Stock Popped on Friday

The Motley Fool · Rich Smith · 2026-11-06 15:12 UTC

Investors got spooked when Democrats took control of Congress. But did they overreact?

Shares of Space Exploration Technologies (SPCX +6.37%) shed 12.5% of their market capitalization in the two days following the 2026 Midterm Elections, as investors worried over the implications a Democrat-controlled Senate and House of Representatives might have for companies controlled by Elon Musk.

On Friday, things got a little better for SpaceX stock. While still underwater relative to its $135 IPO price, SpaceX stock is making back some of its losses today and is up 6.2% to $131.15 at 9:55 a.m. ET.

Image source: Getty Images.

Read the full story at The Motley Fool · All coverage of this story