Shares of Space Exploration Technologies fell 1.65% on Wednesday, trading at $133.84, down $2.24 on the day, continuing a slide that has pushed the stock below its June initial public offering price of $135 per share and near its all-time low of $136.78, reached just two days earlier.

Wednesday’s decline extends a difficult stretch for SpaceX shares since the company’s landmark Nasdaq debut, which ranked as the most valuable initial public offering in history. The stock reached an all-time high of $225.64 on June 16, meaning shares have now fallen more than 40% from that peak in the roughly one month since SpaceX began trading publicly.

FAA Clears Path Toward Next Starship Test Flight

Despite the stock’s recent weakness, SpaceX received positive operational news this week when the Federal Aviation Administration completed its review of a booster issue that occurred during the company’s Starship test flight in May. The FAA’s completed review clears the path for SpaceX to proceed toward Starship’s 13th test flight, pending remaining safety and licensing requirements.

That development has drawn renewed analyst attention to the stock, with several firms reiterating bullish price targets ahead of the anticipated launch. Raymond James has maintained a price target implying more than 470% upside from current trading levels, according to recent analyst commentary, while Evercore has turned more bullish on the stock specifically ahead of the upcoming Starship test flight.

A Volatile Post-IPO Trading Pattern

SpaceX’s stock has exhibited significant volatility since its public debut, reflecting both the scale of investor interest in the company and genuine uncertainty about how to value a business spanning launch services, satellite broadband and artificial intelligence operations. The stock’s beta coefficient of 5.79 reflects an extraordinary level of volatility relative to the broader market, among the highest of any major publicly traded company.

The stock had briefly traded as high as $148 following its addition to the Nasdaq 100 index in early July, before beginning a sustained slide that brought shares down toward, and eventually below, their original IPO price within a matter of days.

Analysts Debate How to Value the Company

SpaceX’s unusual combination of businesses has made the company particularly difficult for analysts to value using traditional frameworks. MoffettNathanson analyst Zhu recently characterized SpaceX as an especially challenging company to value given the diversity of its operations, spanning traditional rocket launch services, the Starlink satellite broadband network, and an artificial intelligence segment that includes the Grok large language model and the X social media platform.

Despite that valuation complexity, Wall Street sentiment toward the stock remains predominantly positive. According to recent tracking data, 26 analysts currently recommend buying SpaceX shares, compared with just one sell recommendation, resulting in an overall Buy rating consensus. The average 12-month price target sits at approximately $242.22, with individual estimates ranging as high as $800 and as low as $62, reflecting the unusually wide range of opinion on the company’s appropriate valuation.

High-Profile Investor Activity

SpaceX’s stock volatility has continued to attract attention from prominent institutional investors. Cathie Wood’s investment firm recently swapped $23 million worth of Advanced Micro Devices shares for SpaceX stock, according to recent trading disclosures, reflecting continued institutional interest in the stock despite its recent pullback from all-time highs.

Separately, investor Chamath Palihapitiya has publicly suggested that a potential merger between SpaceX and Tesla could offer strategic and financial benefits for both companies, despite acknowledging potential hurdles to such a combination. JPMorgan has separately characterized the possibility of a Tesla-SpaceX tie-up as “strategically coherent,” while flagging potential operational bottleneck concerns tied to such a merger.

Continued Operational Milestones

Beyond the upcoming Starship test flight, SpaceX has continued announcing new commercial partnerships and operational developments in recent weeks. Frontier Airlines announced plans to launch in-flight Wi-Fi using SpaceX’s Starlink satellite network beginning in early 2027, extending Starlink’s growing footprint within the commercial aviation sector.

SpaceX has also maintained an extraordinarily high launch cadence, having logged approximately 165 total launches over the past year and accumulating nearly a decade of experience with Falcon 9 first-stage rocket reuse, underscoring the operational maturity of its core launch business even as investors continue debating the company’s overall valuation.

Financial Performance Remains a Question Mark

SpaceX’s most recent quarterly net income figures showed a loss of approximately $4.28 billion, a significant deterioration from a loss of $528 million during the prior quarter, according to recent financial data. The company does not currently pay dividends to shareholders, and its next earnings report is scheduled for August 6, which will provide investors with updated visibility into the company’s financial trajectory following its public listing.

A Company Still Finding Its Public Market Footing

Market analysts have generally characterized SpaceX’s recent stock weakness as part of a broader post-IPO adjustment period, in which speculative early trading gives way to more grounded valuation debates as investors work to reconcile the company’s ambitious long-term growth narrative with near-term financial realities, including substantial ongoing losses tied to its capital-intensive space and AI infrastructure investments.

With SpaceX’s next Starship test flight now cleared to proceed following the FAA’s completed safety review, investors are likely to treat the upcoming launch as a key near-term catalyst for the stock, given Starship’s central role in the company’s long-term ambitions for deep-space missions and its broader space transportation business. Should the test flight proceed successfully, some analysts believe it could help stabilize sentiment toward the stock following its sharp post-IPO decline, while any further setbacks could add to the uncertainty that has already characterized SpaceX’s first month as a publicly traded company.

Dave & Buster’s is taking its arcade experience deeper into nightlife with a new nationwide rave series.

The restaurant and entertainment chain is teaming up with events company Brownies & Lemonade for Rave & Buster’s, a seven-city tour featuring surprise guest headliners and multi-genre music lineups, according to an Instagram post from Brownies & Lemonade.

The events will feature house, bass, dubstep, trap, UK garage and other electronic music genres.

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Brownies & Lemonade said the tour builds on the success of its “DNBNL” events at Dave & Buster’s locations, which it said prompted fans to ask for more artists, genres and cities.

“After the success of our DNBNL series at Dave & Buster’s over the last few years, we’ve received so many requests to expand the concept to include more artists and genres,” the events company said.

“Rave & Buster’s will feature surprise guest headliners and multi-genre lineups featuring the sounds of Bass, House, Trap, Dubstep, UKG, and everything in between.”

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The tour is scheduled to run from July 30 through Dec. 30 with stops in Honolulu; Denver; Dallas; Brooklyn, New York; Orlando, Florida; Irvine, California; and Milpitas, California.

The series will also include shows during Halloween weekend and the week leading up to New Year’s Eve.

Presale tickets became available Wednesday, while general tickets go on sale Thursday, July 16.

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The tour comes as Dave & Buster’s continues expanding beyond arcade games, sports and family entertainment by adding more food, entertainment and nightlife options, according to USA Today.

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Dave & Buster’s began hosting rave-style events at select locations in 2023, the outlet reported.

Dave & Buster’s could not immediately be reached by FOX Business for comment.

Mark Harding
President, CEO, Principal Executive Officer & Director

Yes. I’m Mark Harding, and I’d like to welcome you all. What we try and do each year is give an opportunity for folks to come out and kick the tires and then it’s getting harder and harder to get out and sort of visit companies and with technology, what it is today and our ability to kind of show visually it through earnings presentations and investor presentations and whatnot, the actual company visit is sort of waning.

But what I always like really is the opportunity to show it because when we describe it, when we report it on the balance sheet, you get a picture of it. But when you actually come out and have an opportunity to see what’s going on, on the development side, what’s going on, on the water utility side, a perspective of the growth of the Denver area and some of what we still continue to be the value — our secret value, which is our service area, Lowry and those sorts of things, it does give you a different perspective. And as much as we try and describe that perspective, seeing it, driving it, getting that actual imagery is truly valuable.

And I know a lot of you either on the call or who listen us on the replay have had that opportunity to see it. But one of the things that we did this year that we wanted to concentrate a little bit different on just because there’s a lot to see is taking a look at our service area, taking a look at where our water originate, what’s going

Kaynes Technologies’ sharp 43% slide from its October peak, capped by a steep 12.5% drop on Friday, has raised questions about whether the stock is approaching a reversal zone or slipping into deeper losses. While momentum indicators remain firmly bearish, its stretched gap from the 200-day moving average suggests potential mean-reversion opportunities for tactical investors.

Edited excerpts from a chat with Anand James, Chief Market Strategist, Geojit Investments Limited:

After a flat week, how would you trade the market now? Would Friday’s RBI optimism carry forward on Monday as well? Friday’s optimism stemmed from the completion of a morning star pattern, signaling a potential reversal from the downtrend that began on December 1. However, while the downswing was brief, the reversal is also likely to be short-lived, as evidenced by Friday’s stall at 26,200, a key congestion resistance.

Although oscillators support a possible uptrend extension, we do not see sufficient momentum for a strong move higher. We favor a swing lower toward 26,085–26,065 initially. Alternatively, a breakout above 26,200 could trigger further gains toward 26,460–26,550, but a sharp vertical rise is less likely.

IT was among the major gainers in the week. Do you see chances of more upside?

Yes, the IT sector shows strong potential for further upside. Nifty IT has been signaling a reversal since September and recently broke above the weekly supertrend, indicating strength. The weekly RSI near 60, along with the index closing above its 20-week high, reinforces the positive outlook. Based on these technical cues, the index could target 39,500 in the coming weeks.
Derivative data also supports this bullish view. Over 50% of constituent stocks saw short additions in near OTM put strikes and long additions in call strikes. Additionally, 70% of stocks experienced long build-up on Friday, while 80% recorded weekly short covering, suggesting traders are positioning for further gains. Heavyweights like TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra show strong weekly charts and are expected to lead the rally toward 39,500.PSU banks were under selling pressure but recovered on Friday. Does the chart indicate a fresh 52-week high again going forward?

Even though the index saw a pullback on Friday, the charts suggest a mixed outlook. The wedge pattern breakout in September and the resulting upside has been losing momentum since November. The recent breakdown below the rising trendline near 8,500 indicates a possible short-term trend shift, while the weekly MACD shows exhaustion candles, signaling early signs of consolidation. Despite this, longer-term charts still reflect underlying strength, keeping the possibility of a fresh 52-week high alive.

Derivatives data shows some recovery attempts on Friday, with long additions and short covering in stock futures, but weekly data indicates that more than half of the positions still involved short additions. Among individual stocks, SBI, Bank of Baroda, PNB, Union Bank, Canara Bank, and Indian Bank may see a quick pullback early next week, though sustainability remains uncertain. The preferred strategy is to capitalize on any early upside next week while remaining cautious in the latter half.

Kaynes ended the week down 21% amid negative reports. Do you see chances of an upside bounce or is it too risky to chase the falling knife?

Kaynes has now fallen 43.5% from its October peak, with Friday’s 12.5% decline marking the steepest single-day drop during this period. Momentum indicators and oscillators point to a strong downward trend with no signs of bearish exhaustion, raising the risk that the slide could extend to at least the year’s low of Rs 3,825 seen in February. That said, the severity of Friday’s fall suggests that fear may have peaked.

Adding to this view, the only previous occasion the stock had stretched so far from its 200-day moving average was in April, when the gap was around 25%. Currently, the stock is nearly 26% away from the 200-day SMA, prompting close monitoring for potential mean-reversion moves in the coming week. Given the contrarian nature of this view, the downside marker is advised slightly below Rs 4,300, with Rs 4,541 as the initial recovery target.

Give us your top ideas for the week ahead.

COFORGE (CMP: 1977)

View: Buy

Target: 2080-2180

SL: 1882

The stock has been in a steady uptrend since 2020 and is currently forming a Cup and Handle pattern on the charts. It is attempting a breakout from this formation, supported by a weekly RSI near 60 and a MACD above the signal line. The price action remains strong, trading well above the 20-, 50-, and 100-day moving averages, reinforcing the bullish outlook. The stock is expected to move toward Rs 2,080 and Rs 2,180 in the near term. Long positions should be protected with a stop-loss placed below Rs 1,882.

ABCAPITAL (CMP: 358)

View: Buy

Target: 368-377

SL: 348

The stock has maintained a strong uptrend since February 2025 and continues to show strength on both daily and weekly charts. The weekly MACD remains above the signal line, and the price is trading comfortably above the 20-, 50-, and 100-day moving averages, reinforcing the bullish outlook. The stock is expected to move toward Rs 368 and Rs 377 in the near term. All long positions should be protected with a stop-loss placed below Rs 348.

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