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Summary
SpaceX (SPCX) closed at $136.37 on November 2, 2026, up 1.22%, while the Nasdaq Composite fell 1.07%.
No coverage reviewed tied the gain to one cause, but Reuters carried a Washington Post report that SpaceX has held talks with EchoStar about buying Boost Mobile or using its network.
The talks are unconfirmed, and Boost's network leases may need consent from AT&T and T-Mobile, per Reuters.
Gotrade News - In the latest SpaceX stock news, SpaceX (SPCX) closed at $136.37 on Monday, November 2, 2026, up $1.65 (+1.22%) in a session where the Nasdaq Composite fell 1.07%.
None of the coverage reviewed for this article tied the SpaceX stock gain to a single cause, but the day's main company news was a Washington Post report, carried by Reuters, that SpaceX has held talks with EchoStar about buying Boost Mobile or gaining access to its network.
SPCX Trading Data
Data
Value
Closing price
$136.37
Change
+$1.65 (+1.22%)
Previous close
$134.72
Open
$137.04
Day range
$135.72 to $142.05
Volume
91.0 million shares
30-day average volume
95.0 million shares
52-week range
$104.83 to $225.64
Regular-session close on Monday, November 2, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 3, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
SPCX opened at $137.04 and traded between $135.72 and $142.05, then gave back most of its intraday gain to close $0.65 above the day's low. Volume came to 91.0 million shares, 4.22% below the average of 95.0 million shares.
The gain came against a soft session for technology shares. The Nasdaq Composite fell 1.07% to 25,164.36 and the S&P 500 slipped 0.51% to 7,541.40, while the Dow Jones Industrial Average rose 0.41% to 51,983.98, leaving SPCX 2.29 percentage points ahead of the Nasdaq. The US 10-year Treasury yield eased 3.5 basis points to 4.89%.
Among Musk-led and space names, Tesla (TSLA) rose 1.00% to $403.82, while AST SpaceMobile (ASTS) fell 11.33% to $36.33. SPCX ended the session 39.56% below its 52-week high of $225.64 and 30.09% above its 52-week low of $104.83.
Why SpaceX Stock Rose
No report reviewed for this article directly linked Monday's rise in SpaceX shares to one cause. The session's main company news came from a Washington Post report, which Reuters carried on November 2, that SpaceX has held talks with EchoStar in recent months about buying Boost Mobile or gaining access to its network, and that Elon Musk reportedly met EchoStar chairman Charlie Ergen last month. Per Reuters, SpaceX and EchoStar did not immediately respond to requests for comment, and EchoStar shares rose about 3.4% in premarket trading.
Boost Mobile leases its network from AT&T and T-Mobile, so the proposed service may need their consent, Reuters reported. EchoStar had 7.38 million wireless subscribers at the end of the second quarter, mainly Boost Mobile and Gen Mobile customers.
The report also touches a public dispute over how fast SpaceX can build a wireless business. As reported by TIKR, Verizon CEO Dan Schulman said on Verizon's third-quarter call that SpaceX would need "a minimum of four to six years" and "somewhere between $300 billion and $500 billion" to become a rival, while Musk replied on X that it "will take 2 or 3 years." TIKR argued that a Boost deal would cover the retail and customer side of Schulman's list.
The same report weighed on a satellite rival. According to Stocktwits, AST SpaceMobile shares fell on competition concerns, since its business relies on partnering with existing carriers.
SPCX Stock Analysis: Supporting Factors and Risks
Supporting Factors
If the talks lead to a deal, SpaceX could gain an existing customer base: EchoStar had 7.38 million wireless subscribers at the end of the second quarter, according to Reuters.
SpaceX held $89.9 billion in cash and marketable securities on September 30, per TIKR, funds that bear on a costly wireless push.
Risks
The talks are reported, not confirmed: SpaceX and EchoStar did not immediately comment, and Boost's network leases may need consent from AT&T and T-Mobile, per Reuters.
Analysts cited by Reuters flagged the heavy investment needed in ground infrastructure, customer service and handset subsidies.
SpaceX expects fourth-quarter capital spending of $35 billion to $40 billion, as reported by TIKR, while Verizon's CEO put the cost of building a rival carrier at $300 billion to $500 billion.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
