Elon Musk is a trillionaire again.
Musk's net worth reached $1 trillion on Monday as SpaceX $SPCX shares jumped more than 5%. The stock has continued moving higher and is now trading around $175.
One of the main reasons was a positive report from Morgan Stanley, which kept its $300 price target for SpaceX and said the stock could have more room to grow compared with major AI companies.
Investors are also watching the next Starship test flight, expected later this month or in early November.
SpaceX has also seen strong business growth. Its revenue nearly doubled from a year earlier, mainly helped by Starlink and its growing AI business.
Musk's net worth reached $1 trillion on Monday as SpaceX $SPCX shares jumped more than 5%. The stock has continued moving higher and is now trading around $175.
One of the main reasons was a positive report from Morgan Stanley, which kept its $300 price target for SpaceX and said the stock could have more room to grow compared with major AI companies.
Investors are also watching the next Starship test flight, expected later this month or in early November.
SpaceX has also seen strong business growth. Its revenue nearly doubled from a year earlier, mainly helped by Starlink and its growing AI business.
