On October 5, local time, SpaceX’s share price surged 7.63%, boosting Musk’s personal net worth by approximately US$30.6 billion in one day. According to Fortune magazine’s real-time billionaire list, as of the close of the U.S. stock market that day, Musk’s personal wealth was approximately US$1.03 trillion.
On the company side, Wall Street investment bank Morgan Stanley issued a bullish report on SpaceX, believing that the company’s future growth prospects are promising, including new AI products, starship research and development progress, and new cloud service contracts, and maintained a buy rating.
In addition, SpaceX completed intensive commercial launch missions last week and achieved new breakthroughs in starship testing. Morgan Stanley believed that the company’s stock price was significantly undervalued and gave a target price of US$300 per share, which was approximately 75% higher than the closing price of the day.
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