Woofun AI reports that KeyBanc Capital Markets has initiated coverage of SpaceX with a Neutral rating. The firm highlighted that while the aerospace giant presents multiple avenues for substantial long-term expansion, the immediate risk-reward profile appears relatively balanced. This assessment comes as SpaceX shares retreated more than 4% in pre-market trading on Monday, signaling a potential third consecutive session of losses.

Over the previous Wednesday and Thursday trading sessions, the stock had already accumulated a decline exceeding 8%. Despite this recent downward pressure, SpaceX’s share price closed Thursday at a level 37% higher than its initial public offering price of $135. Consequently, the company’s market capitalization stands at $2.4 trillion, reflecting sustained investor confidence in its long-term trajectory despite near-term volatility.