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Markets · Investing · Business
Finance
Why Does SpaceX Stock Keep Going Up?
SpaceX has an unbroken record of always going up -- until it doesn't.
Space Exploration Technologies (NASDAQ: SPCX) stock has literally never gone down. Granted, the stock has only been trading for three days since conducting the biggest IPO ever on Friday -- but each of those three days, the stock has gone up, including today, with SpaceX shares rising a modest 2% through 9:45 a.m. ET.
Image source: Getty Images.
The most immediate and obvious catalyst behind today's continued rise is the news SpaceX released yesterday, when the space company announced it will become even more of an artificial intelligence company than it already was, but spending $60 billion in stock to acquire Anysphere, the private software company that owns popular AI coding tool Cursor.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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