SpaceX Shares Waver Following $60 Billion Cursor Acquisition

The market volatility follows a historic June 12 IPO that briefly vaulted Elon Musk into the trillionaire class. After an initial surge from $135 to over $225 in just four days, the stock saw back-to-back declines of five percent and 3.75 percent following the Anysphere announcement. Despite the recent slide, current trading remains comfortably above the original offering price.

Financial outlooks remain starkly polarized. Morningstar researchers contend the stock is significantly overvalued, setting a fair value estimate of $62 per share and suggesting even a best-case scenario peaks at $169. Conversely, Oppenheimer and Co. analysts have taken a bullish stance, raising their price target to $250. Analyst Timothy Horan argues that integrating Cursor allows SpaceX to control the entire AI stack, providing both cost and quality efficiencies that justify the premium. For Musk, the threshold for retaining his trillionaire status sits at a share price of $138.