TradingKey – SpaceX Overcomes Bromo Headwinds as Stock Surges Back Above $150 Mark, Eyeing Previous High of $170.
On October 16, Eastern Time, SpaceX (SPCX) bucked the trend to surge past the $150 mark despite pressure from the $11.6 billion Project Bromo satellite mega-joint venture launched by European aerospace giants and market deleveraging pressure from macro inflation data such as CPI and PPI. In pre-market trading, SpaceX stock rose 2.56% to trade at $152.39.
SpaceX stock price chart, Source: TradingView
Amid higher-than-expected US CPI and PPI data, the European Commission accelerated the advancement of “Project Bromo”—a project formed by Airbus, Leonardo, and Thales—aiming to build a native European satellite giant to reduce…
