SpaceX Update: SPCX Slips Below $135 IPO Price, Reich Targets Musk

This update is a roundup of same-day reporting from the linked sources below, with editorial context from the CPJ Stock Desk.

SpaceX shares closed Friday below the $135 IPO price, according to one market report. Separately, a prominent Democratic voice called for nationalizing SpaceX and Starlink, and Starlink picked up an airline customer.

Key points

SPCX fell 6.4% to $134.72 on Friday, just under the $135 IPO price, per FinanceFeeds.
That report ties the drop to Intel guidance hitting what it calls the partnership case. The summary gives no further detail.
Former Labor Secretary Robert Reich urged Democrats to target Elon Musk and nationalize SpaceX and Starlink under a future Democratic administration, Fox Business reports.
easyJet plans to offer Starlink-powered Wi-Fi, with rollout starting in the first half of next year, per the Nottingham Post.
Google ran an AI model on a TPU in orbit, using a satellite launched on a Falcon 9 rideshare, according to IndianWeb2.

What does the move below the IPO price mean?

A 6.4% single-day drop to $134.72 leaves the stock about $0.28 under the $135 IPO price. The gap is small, but the IPO price is a level investors and commentators watch, and the close under it is the headline in the FinanceFeeds piece. That article also frames the week ahead with a bull target of $150 and a bear level of $120. Those are the publication’s own scenarios, not forecasts we can verify, and the source summary does not explain how they were derived.

The stated catalyst is Intel guidance. The summary says it hurt the partnership case, but it does not spell out what the partnership is or what in the guidance caused the reaction. Readers should treat the causal link as the outlet’s interpretation. Single-session moves of this size often have several drivers, and we have only one source here.

How seriously should investors take the nationalization call?

Reich, a former Clinton Labor Secretary, argues that Democrats should go after Musk after the midterms and that a future Democratic administration should nationalize SpaceX and Starlink, according to Fox Business. The source describes this as one commentator’s urging. It does not report any official Democratic Party position, legislation or administration plan.

For investors, the practical read is limited. This is a political opinion piece covered by a news outlet, and nothing in the sources indicates policy movement. It does add to the set of political-risk talking points around Musk-linked companies, but the timeline implied (after the midterms, under a future administration) is distant and uncertain.

Starlink demand and the orbital computing angle

On the commercial side, easyJet announced it will offer on-board Wi-Fi for the first time through a partnership with Starlink. The rollout is set to begin in the first half of next year. The source summary does not give pricing, fleet size or contract terms, so the revenue impact cannot be estimated from what we have.

Separately, Google said its Project Suncatcher prototype satellite ran its Gemma 4 model on an onboard TPU and returned a haiku to Earth. The satellite launched on a SpaceX Falcon 9 rideshare mission carrying more than 100 spacecraft. The article says the prototype generates roughly 1 kilowatt, so only one of its four TPUs can run at a time, for about 20 minutes per communication pass. Google says further tests will examine radiation and thermal stress, and the article itself calls economics, launch costs and reliability formidable hurdles.

For SpaceX, the relevance is as a launch provider for third-party experiments. The sources do not say Google plans further SpaceX launches, and they do not quantify any revenue from this mission.

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