SpaceX Shares Rise Over 5% to $121 on August 7, 2026
On August 7, 2026, SpaceX shares rose over 5% to $121 in early trading, later climbing 12% to $127.8, lifting market cap to $1.68 trillion after insider lockups expired. Coherent gained 16% (up 47% on the week), Lumentum rose 6%, and Marvell Technology 3%. In software, Palantir advanced 9%, JFrog 7%, and Salesforce and CrowdStrike each rose over 2%. Doximity surged 35% on strong AI search revenue, while solar stocks gained on tariff policy, with First Solar up over 3% and the Invesco Solar ETF higher.
In midday trading on US markets, several companies saw significant share price moves. SpaceX shares rose 12% to $127.8, giving it a market capitalization of $1.68 trillion, after the expiration of an insider lock-up period and newly acquired shares began trading. Coherent shares gained nearly 16%, bringing its weekly advance to about 47%. Lumentum and Marvell Technology rose 6% and 3%, respectively, both in the optoelectronics and chip design space. The software sector was broadly stronger, with the iShares Expanded Tech-Software Sector ETF up nearly 3%. Palantir rose 9%, JFrog climbed 7%, and Salesforce and CrowdStrike each gained over 2%. Doximity shares surged 35% after executives said on the earnings call that its new AI search tool generates more than 10 times the revenue per search relative to operating costs. Solar stocks advanced on import tariff policy, with First Solar up over 3% and the Invesco Solar ETF also moving higher.