markets

Helena Cheng6/4/26

Applied Aerospace rises on second day of trading

Applied Aerospace & Defense shares are gaining on Thursday, though they’re still trading below their Wednesday IPO price of $20. Yesterday’s debut raised $650 million and put the company’s valuation at roughly $3.5 billion. Despite opening trading at $20.75, shares closed the day at just over $19.

Applied Aerospace manufactures components used in rockets, aircraft, and defense systems, including solid rocket motor cases, fuselage assemblies, and engine shafts. Its customers include companies such as Boeing and Anduril Industries. Separately, its IPO filing showed that its three largest customers accounted for roughly 59% of revenue in 2025.

Investors remain interested in defense-related listings as geopolitical tensions and military spending continue to drive interest in the sector.

“We’re right at the epicenter of doing really incredible mission work supporting next-gen interceptor development, which protects cities and countries,” CEO Trip Ferguson said in an interview with NYSE.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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