SpaceX stock moved higher in early pre-market trading after Norway’s sovereign wealth fund disclosed a $1.2 billion position. The fund owns about 7.3 million Class A shares, equal to a 0.05% stake. SPCX closed at $133.29 on August 11 after falling 3.93% during the session. Pre-market trading then lifted the stock to $134.90, placing the $135 IPO price back in focus.
SPCX Stock Price Returns Toward the IPO Level
SPCX shares traded at $134.90 in pre-market activity, up 2% from the prior close. The stock had finished Tuesday at $133.29 after losing $5.45 during regular trading. That decline left SpaceX slightly below its IPO price from June.
The pre-market rebound brought buyers back near the offering level. A move above $136 would place the stock above its IPO reference again. The chart also marks $138.74 as a higher near-term level. On the downside, the $133 area now acts as the nearest price zone to watch.
SpaceX shares have moved sharply since their public debut. The stock climbed after the IPO, then lost ground during July. It closed above the IPO price again on Monday before dropping in the next session. That price history keeps $135 at the center of the short-term SPCX price prediction.
Norway Fund Discloses First SpaceX Position
Norges Bank Investment Management disclosed its first SpaceX holding in its updated portfolio data. The fund owns around 7.3 million Class A shares. The position carried a value of roughly $1.2 billion as of June 30.
The holding represents about 0.05% of SpaceX. Norway’s Government Pension Fund Global currently manages about $2.3 trillion in assets. Its SpaceX position therefore accounts for only a small part of the wider portfolio. NBIM invests across more than 7,000 companies in over 50 countries worldwide.
NBIM had already discussed a possible SpaceX investment before the IPO. Deputy CEO Trond Grande confirmed those talks in April. SpaceX later priced its public offering at $135 per share on June 11 and 12. The company raised $75 billion and entered public markets at an estimated $1.77 trillion valuation.
Fund Reports Record First-Half Profit
NBIM also reported more than $184 billion in profit for the first half of 2026. The fund generated a 9.4% return during the six months. Asian technology stocks played a major role in the result, according to CEO Nicolai Tangen.
Equities account for more than two-thirds of the fund’s portfolio. Around 40% of its holdings sit in U.S. stocks. Nvidia, Apple and Microsoft rank among its largest listed positions. Equity investments returned 12.95% during the first half after a weaker opening quarter.
Also, NBIM owns about 1.3% of Nvidia, valued near $61.8 billion, and around 1.2% of Apple, valued near $52.7 billion. The fund also holds about 1% of Tesla.
The fund’s equity portfolio fell 2.6% during the first quarter and returned 15.98% during the second quarter. That rebound supported the record first-half profit as technology shares recovered.
SPCX Price Prediction Watches $135 and $138.74
The near-term SPCX price prediction now centers on the stock’s reaction around $135. Pre-market trading has already brought the shares close to that level. A sustained move above $136 would restore the IPO price as support.
If buyers maintain momentum, the $138.74 level becomes the next visible SPCX resistance. That level sits about 2.8% above the $134.90 pre-market price. A rejection near $135 could return attention to the $133 to $134 area.
