SpaceX (SPCX) closed at $158.96 on October 2 after surging 7.35% on record volume, driven by three successful launches in under 13 hours—including a Crew-13 mission to the ISS and a Falcon Heavy NRO flight—plus Starship’s first orbital deployment earlier in the week. Traders are pricing near-term momentum from the company’s accelerating launch cadence and expanding AI compute leasing contracts, with TD Cowen initiating coverage at a $200 target and consensus estimates averaging $219–$235 across major brokerages. These levels reflect expectations for AI revenue scaling to roughly one-third of total sales in 2026, offsetting traditional aerospace metrics. With Q3 results due in early November and potential lock-up expirations, implied volatility remains elevated as the stock trades 29% below its $225.64 high but well above the $135 IPO price. End-of-October resolution will hinge on sustained execution and any macro shifts in risk appetite.