SpaceX stock price surges 8.77% in premarket trading today, October 21. Specifically, the jump follows Elon Musk’s comment that SpaceX and Tesla boards formed special committees. Those committees will explore a possible merger.
SpaceX stock price surges as merger talks emerge
However, Musk said the committees have not agreed on a merger. Furthermore, he said a deal is not guaranteed. “I think some people assume a merger is a certainty,” Musk said. “That would overstate it.” He added that he is not part of the discussions due to a conflict of interest. Nevertheless, he sees “a lot of merit” in combining the companies. For example, he cited synergies in multiple areas.
Additionally, Barclays recently noted that SpaceX could acquire Tesla in an all-stock deal. SpaceX could announce that deal before the December 3 shareholder meeting.
Q3 2026 earnings beat estimates
SpaceX reported $14.58 billion in revenue for Q3 2026. That topped the $12.7 billion estimate. Earnings per share came in at $0.35. That beat the $0.15 estimate. Adjusted EBITDA reached $8.81 billion. That also exceeded the $6.59 billion estimate. Consequently, the positive results triggered the premarket gain. Meanwhile, investors are watching Tesla’s earnings today. Those results could drive more volatility for SPCX shares.
SpaceX stock price surges past $161 – will the uptrend hold?
At the time of writing, SpaceX stock price reached $161 in premarket. The stock bounced from crucial support at $143. If the uptrend holds, SpaceX could touch resistance at the upper Bollinger Band near $170. A close above $170 could fuel another bullish leg toward $192. However, the MACD line has not yet signaled a bullish shift. Specifically, a crossover above the zero line could support the upward move.
On the other hand, shares face more volatility ahead. Another unlock of 328 million SPCX shares occurs on October 24. That could increase supply and trigger a price correction.
Key levels to watch
Resistance sits near $170, then $192. Support sits at $143. Therefore, traders should watch those levels closely.