SpaceX Stock Closes at $171.09 Following Rally, Returning Elon Musk to Trillionaire Status

SpaceX shares closed at $171.09, their highest level since June, after surging nearly 8% on Monday and about 15% across two trading sessions. The rally, supported by Morgan Stanley reiterating an Overweight rating and a $300 price target, pushed CEO Elon Musk's net worth back above $1 trillion, with Forbes estimating it between $1.04 trillion and $1.046 trillion. The advance follows a 16% five-day gain alongside a 2.2% rise in Tesla. Despite Starlink's Q2 connectivity revenue rising 66% year-over-year to $4.291 billion, SpaceX posted a Q2 net loss of $541 million.