SpaceX shares surged for a second straight day, bringing the stock close to breaking back above the company’s $135 initial public offering price for the first time since it fell below that key level last month. The rally, which has added approximately $327 billion to the company’s valuation, reflects renewed investor enthusiasm ahead of potential upcoming milestones. Analysts attribute the bounce to strong demand for SpaceX’s Starlink satellite internet service and progress on the Starship rocket program.

The stock had dipped below the IPO price amid broader market volatility, but the recent upward momentum suggests confidence in the company’s long-term growth trajectory. If the shares close above $135, it would mark a significant psychological victory for early investors and the company as it weighs a potential public listing. The move also underscores the continued appetite for high-growth space technology stocks despite macroeconomic headwinds.

Trading volume has been elevated, with institutional buyers stepping in to support the price. Observers are now watching whether the rally can sustain above the IPO level, which would open the door for further gains. The $135 price point has become a closely watched benchmark, and reclaiming it could signal a turning point for SpaceX’s market narrative.