SpaceX shares rebounded sharply on July 28 after hitting a post-IPO low of $107.01, closing up 3.9% at $117.90. The stock had plunged from a peak of $225.64 on June 16, when its market capitalization reached nearly $3 trillion, to about $1.4 trillion at the intraday low. The bounce offers relief to shareholders including CEO Elon Musk, whose wealth has declined more than $650 billion since mid-June, according to Barrons. Analysts have set an average one-year price target of about $230, though Morningstar has maintained a fair value estimate of $63 since before the IPO. The company is set to report its first quarterly earnings on August 4, with consensus estimates pointing to a per-share loss of 29 cents on revenue of $6.82 billion.
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