US Stock Market Move | SpaceX (SPCX.US) rose by over 5% as Starship's fourteenth test flight will attempt to achieve orbit.

On Thursday, SpaceX (SPCX.US) rose over 5% to $148.28. In terms of news, SpaceX has applied to the Federal Communications Commission (FCC) for permission to carry and operate Starlink terminals during the fourteenth flight test of the Starship. According to the submitted documents, this mission is planned to conduct a true orbital flight, which is a task that the Starship program has never attempted before. Timothy Horan, an analyst at Oppenheimer, led a client report on Wednesday stating that SpaceX is likely to be a winner in the short-term shortage of computing power. Horan believes the company "has the ability to introduce infrastructure faster than anyone else and is leveraging this infrastructure and its data to improve its models at a quicker pace than any other entity." Horan rated SpaceX's stock as a buy and raised the target price from $250 to $280. The new target price implies about a 100% upside from the current level.