“SpaceX (NASDAQ: SPCX) has emerged as a cornerstone of the modern space economy. Its Starlink constellation, now exceeding 9,000 satellites, delivers global internet coverage, while its launch vehicles accounted for more than 80% of all licensed U.S. space missions in 2025—underscoring its dominance in both connectivity and orbital transport.After weeks of anticipation, SpaceX’s initial public offering (IPO) took off on 12 June. SpaceX set a historic precedent by launching the largest IPO ever recorded. The company’s debut on the public markets concluded with an extraordinary $2 trillion market capitalization, establishing a new benchmark in financial history and signaling strong investor confidence in its long‑term trajectory. In this article, we will take a look at Elliott wave structure of the rally since IPO date of 12th June 2026, we will present two possible scenarios along with short-term targets for share holders.
SpaceX (SPCX) Targetting $198.69 – $224.25 Area
Stock posted a strong rally to $176.52 on the opening day before a pull back to $157.43 before resuming the rally and breaking above $176.52 high to create a short-term bullish sequence opening extension higher toward $198.69 – $224.25 area. We can see wave (( i )) of 3 completed at $172.50, wave (( ii )) of 3 completed at $167.10 and wave (( iii )) of 3 in progress which could end somewhere between $198.69 – $208.45. After this, we expect a pull back in wave (( iv )) and one more high to complete wave 3. Following this, expect a pull back in wave 4 to correct the cycle from $157.43 low and then higher again to complete 5 waves up from the IPO low. Afterwards, we can see a pull back to correct the rally since IPO low in wave ( 2 ) in 3 or 7 swings and continue higher.
SPCX Elliott Wave View – Bullish Nest
Chart below shows dip to $157.43 was a wave ( 2 ) and 5 waves up from there toward $198.69 – $208.45 area complete complete wave 1 of ( 3 ) resulting in a slightly bigger pull back to correct the rally from wave ( 2 ) low before accelerarting higher in wave 3 of ( 3 ).
