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The commercial space sector is repricing around infrastructure math, and Space Exploration Technologies (NASDAQ: SPCX) sits at the center of that calculation.
After hitting an all-time intraday high of $225.64 on June 16, the stock fell to a low of $104.83 before recovering to near its $135 IPO price.
It still trades below the $150 level at which it opened its first day of public trading. Second-quarter results gave the recovery a foundation.
Revenue reached $7.8 billion, up 92% year over year, while adjusted EBITDA rose 191% to $3.5 billion.
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