SpaceX Stock Dips Below $135 IPO Price as Binance's CZ Reaffirms $1B Bullish Stake

SpaceX stock (SPCX) closed Friday at $134.72, dropping slightly below its $135 June listing price, even as Binance founder Changpeng Zhao (CZ) reaffirmed his long-term bullish stance on the aerospace company. ## Binance Holds $1B Stake Amid Hack Shortfall Speculation Binance currently holds a position valued at over $1 billion in SpaceX stock, an investment that originated from a $500 million commitment to Elon Musk's 2022 acquisition of Twitter. Speculation arose after CZ referenced the equity holdings while accounting for balance sheet assets following the recent security incident. Binance pledged full reimbursement following the exploit, with co-CEO Yi He confirming that the firm's 2026 revenue covers all losses from the $6 billion heist. CZ explicitly rejected rumors of an impending stock sale on Saturday, stating: "I never said 'selling SPCX shares'... I don't make threats... And I think it will be one of the best stocks to hold for a long time to come." ## Dec. 8 Share Unlock and Options Market Expectations Market participants are monitoring supply dynamics as SpaceX's final lockup tranche becomes sellable on December 8, according to schedules published on Nasdaq. Options expiring December 18 are pricing in a potential $19 or 14% price movement in either direction, establishing an implied trading range of $117 to $155, according to OptionCharts data. During the prior lockup expiration on August 6, when more than 911 million insider shares unlocked, SPCX rose over 6% toward $115. ## Wall Street Analyst Targets and High Valuation Out of 35 analysts tracked by TipRanks, 29 rate SpaceX stock as a Buy, generating an average price target of $250.34, which represents an estimated 86% upside from Friday's close. Even the lowest price target, set by Piper Sandler at $140, remains above current trading levels. However, valuation concerns persist among some investors. Data from MarketBeat indicates SpaceX trades at approximately 518 times annual profit, even after third-quarter revenue jumped 161% year-over-year to $14.57 billion. ## Key Takeaways - SpaceX stock (SPCX) closed at $134.72, slipping below its $135 June IPO price. - Binance holds a stake worth over $1 billion in SPCX, and founder CZ denied plans to sell. - SpaceX's final share unlock occurs on December 8, with options pricing a 14% swing ($117 to $155) by December 18. - Analysts maintain an average target of $250.34 (86% upside) despite a 518x price-to-earnings valuation. ## Why It Matters CZ's firm reassurance that Binance will hold its $1 billion SpaceX stake helps relieve broader market concerns regarding potential asset liquidation following Binance's recent security breach. With an 86% average upside projected by Wall Street analysts and Q3 revenue surging 161% to $14.57 billion, SpaceX's core growth trajectory remains robust despite temporary lockup volatility. Investors will closely watch the December 8 unlock to see if buyer demand can absorb incoming share supply as effectively as it did during August's unlock.