[SpaceX Stock Price Returns Above IPO Issue Price, Wall Street Accelerates Institutional Layout] BlockBeats News, on September 1, SpaceX's stock price has climbed back above its IPO issue price of $135. Previously, the market was concerned about a potential sell-off by employees and early investors after the lock-up period expired, but no large-scale sell-off occurred, and the stock price has instead risen. The initial rise in SpaceX's stock price was partly driven by its "scarcity," but as more shares gradually become unlocked, the market's focus is shifting from "whether the stock is scarce" to "who is willing to continue buying." The first large-scale unlocking is expected to release approximately 912 million shares, and by the end of this year, an additional 3 billion shares may become eligible for trading. At the same time, Wall Street is accelerating efforts to incorporate SpaceX into institutional investment frameworks. Several banks have issued target prices after the quiet period ended, with a median target price of approximately $225, ranging from $190 to $800. Goldman Sachs has set a target of around $205, JPMorgan Chase at approximately $225, and Morgan Stanley at about $300. As analyst coverage, valuation models, liquidity, and potential index inclusion gradually improve, SpaceX is transitioning from a "scarce asset" to a standard security that institutional investors need to compare and allocate alongside assets like NVIDIA, Microsoft, Amazon, and Google. However, SpaceX's current valuation already reflects expectations for the future high growth of its businesses, including Starlink, Starship, AI infrastructure, and orbital computing. As the supply of shares increases, the "scarcity premium" will gradually diminish, and whether the stock price can continue to rise will depend more on the company's ability to deliver on its fundamentals and whether institutional funds can consistently absorb the additional supply. [Original Link]