SpaceX (SPCX) broke through $165, continuing to hit a new high since bottoming in early August.

October 5th, according to BIT (bit.com) data, SpaceX (SPCX) rose 4.17% during intraday trading, breaking through $165, currently at $165.38, hitting a new high since touching a bottom on August 3rd.

previously reported that Morgan Stanley reiterated its "overweight" rating on SpaceX with a target price of $300, and believes that once its growth prospects are considered, the stock looks "very cheap." Analyst Adam Jonas stated that on a growth-adjusted basis, SpaceX's trading valuation is approximately 40% lower than mega-cap AI peers. Potential catalysts include the upcoming Starship flight, third-quarter earnings, the Grok release, and more Neocloud deals, while the successful capture of Starship could be the largest catalyst since the IPO.