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Summary
SpaceX (SPCX) closed at $123.62 on November 5, 2026, down 9.05%, a steeper drop than the Nasdaq Composite's 5.52% fall.
Financial media tied the decline to regulatory worries over data center buildouts after Democrats won control of Congress, alongside a broad selloff in AI and chip stocks.
Volume ran 74.40% above average, and the stock closed 45.21% below its 52-week high.
Gotrade News - In the latest SpaceX stock news, shares of SpaceX (SPCX) closed at $123.62 on Thursday, November 5, 2026, down $12.30 or 9.05%. Financial media tied the SpaceX stock drop to regulatory worries after Democrats won control of both chambers of Congress, amid a broad selloff in AI and chip stocks.
SPCX Trading Data
Data
Value
Closing price
$123.62
Change
-$12.30 (-9.05%)
Previous close
$135.92
Open
$131.34
Day range
$120.39 to $131.87
Volume
171.4 million shares
30-day average volume
98.3 million shares
52-week range
$104.83 to $225.64
Regular-session close on Thursday, November 5, 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 6, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
SPCX opened at $131.34, below Wednesday's close, and sold off through the session to finish just $3.23 above its intraday low. Volume ran 74.40% above the stock's average.
The stock fell further than the market. The Nasdaq Composite dropped 5.52% to 24,315.00, the S&P 500 lost 4.36% to 7,353.73 and the Dow Jones Industrial Average fell 3.44% to 51,523.06, leaving SPCX 3.53 percentage points behind the Nasdaq. Fellow Elon Musk company Tesla (TSLA) fell 10.77% to $343.69, Nvidia (NVDA) slid 9.26% to $181.60 and satellite operator AST SpaceMobile (ASTS) dropped 15.22% to $30.20. The US 10-year Treasury yield fell 5.7 basis points to 4.84% in the same session.
At the close, SPCX sat 45.21% below its 52-week high of $225.64 and 17.92% above its 52-week low of $104.83.
Financial media tied the drop to the results of Tuesday's midterm elections. According to Yahoo Finance, SpaceX and Tesla extended their declines on Thursday over concerns about regulatory hurdles for data center buildouts in the US, with the Democratic win in Texas, where both companies are headquartered, at the center of the concern. As reported by NBC News, SpaceX has recently emerged as a data center developer, and many winning Democrats pledged to slow or halt AI data center construction.
NBC News added that Musk spent hundreds of millions of dollars to help elect Republican candidates, and that he and his companies now face the prospect of tighter regulation and possible state and federal investigations. Analyst Dan Ives wrote that a possible SpaceX and Tesla merger "now faces a much tougher regulatory roadmap to get this deal done in 2027," per Yahoo Finance.
The wider selloff added to the pressure. Per NBC News, lackluster results from Qualcomm and Arm Holdings on Wednesday night triggered the AI selloff, and the Nasdaq Composite entered correction territory. According to Yahoo Finance, Nomura's Charlie McElligott attributed the move mainly to hedge funds locking in profits before the end of the year rather than to weaker fundamentals.
SPCX Stock Analysis: Supporting Factors and Risks
Supporting Factors
According to SpaceX's third-quarter 2026 results release, revenue rose 161% year over year to $14.6 billion, and the company posted net income of $4.4 billion against a net loss of $1,054 million a year earlier.
The Super Intelligence segment brought in $7,560 million, which SpaceX attributed to new cloud services agreements, the acquisition of Cursor and increased Grok adoption.
Connectivity revenue grew 69% to $5,248 million, and Starlink ended September with 13.6 million consumer subscribers, up 1.6 million from the prior quarter, per the company's earnings report.
Risks
SpaceX's Super Intelligence segment, which reached 1.7 GW of nameplate compute by September 30, relies on data center buildouts that many winning Democrats pledged to slow or halt, per NBC News.
Third-quarter capital expenditures reached $19,593 million, up from $6,880 million a year earlier, with $16,444 million in Super Intelligence, while NBC News reported that investors increasingly question whether AI investments will pay off.
SpaceX's planned purchase of 800 MHz spectrum licenses for Starlink Mobile is expected to close in the first half of 2027, subject to regulatory and other customary closing conditions, according to the company.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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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.
