After reaching highs in the initial days following its mid-June IPO, SpaceX SPCX shares fell sharply, declining about 48% through late July. However, since the start of August, the aerospace company's stock has turned the tables, rebounding about 58%. Morgan Stanley's MS bullish call on Sunday added to SPCX's momentum, with shares rising about 7.7% on Monday to their highest level since mid-June. SPCX rose about 0.40% during pre-market hours on Tuesday. According to analysts at Morgan Stanley, SpaceX is "cheap" at current prices, highlighting potential catalysts, including "future AI product releases, Starship progress, and additional neocloud contracts," as quoted on a CNBC article.
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