SpaceX continues to rise after record IPO. Jay Woods says watch these levels
(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) NYSE insider Jay Woods gives what pro traders are watching the week after Elon Musk’s SpaceX went public. SpaceX’s Friday debut marked biggest initial public offering in history, with shares jumping 19% during the session to close at $161. The company’s valuation currently sits at just over $2 trillion. SpaceX popped another 8% on Monday. SPCX mountain 2026-06-12 SPCX chart This week, Woods said that there are a few different levels traders will be watching, including the stock’s anchored volume-weighted average price, which currently sits at $167.50. Shares have already eclipsed this level on Monday. Woods added that traders should also watch the $175.50 level. “If it can stay above there for five to 10 days on an average closing basis, that gives insiders the ability to sell up to 10% of those shares. That is a ways away, but it could into play,” said Woods, chief market strategist at Freedom Capital Markets. (Watch full video above.) Woods, a trader at the Big Board for three decades, also touches on the following in the exclusive video: As peace talks pick up, traders watching the 7,620 level for the S & P 500 — the index’s old high — for “confirmation that maybe the worst is behind us.” A company with earnings this week: CarMax . Woods noted that the stock just broke out, and shares trading at their 200-day moving average could present an opportunity to buy in the dip. What oil prices could mean for the Federal Reserve meeting coming up this Wednesday. (This weekly Monday video is exclusively for CNBC PRO subscribers.)
