Space Exploration Technologies Corp. (NASDAQ:SPCX) has increased the prices of its Starlink satellite internet service’s aviation plans for in-flight Wi-Fi facilities.
SpaceX Hikes Prices By 100%
In a post on X on Tuesday, influencer Sawyer Merritt shared SpaceX’s new pricing for Starlink Business Aviation plans. The plans, offered in three tiers, include the Starlink Regional 25 GB, priced at $4,000/month, up from the previous price of $2000/month.
It offers speeds up to 250 Mbps, while the data is capped at 25 GB/month. Additional data costs $250/GB, Merritt said. The plan offers coverage within one continental region.
SpaceX also offers a new plan called the Aviation Regional Unlimited pack at $12,500/month, which offers speeds up to 500 Mbps and coverage within a single continental region. There is no data limit and it offers speeds of up to 500 Mbps.
The Aviation Global Unlimited pack is now offered at $20,000/month instead of a monthly price of $10,000 like before. The tier offers unlimited data and speeds of up to 1 Gbps and worldwide coverage. SpaceX will migrate existing customers to the new pricing in August, the post said.
The commercial space flight company also revealed that it has increased the prices of its Starlink equipment from $145,000 to $200,000.
Morgan Stanley Bullish On SpaceX
The news comes as a number of investment banks initiated SpaceX coverage, with Morgan Stanley (NYSE:MS) analyst Adam Jonas outlining a bull case of $600/share for SpaceX and $3.3 trillion in revenue by 2040. He also outlined SpaceX’s massive CapEx spend of close to $300 billion/year till 2034.
Meanwhile, investor Cathie Wood of ARK Invest also purchased 44,196 shares in the ARK Innovation ETF (BATS:ARKK) in a transaction worth more than $6.5 million.
SpaceX also entered the Nasdaq 100 index, marking the fastest entry into the index by any stock ever. The entry, which has been opposed by experts, sees billions of dollars in forced buying from index funds and ETFs that track the Nasdaq 100.
According to Benzinga Edge Rankings, SpaceX fails to provide a favorable price trend in the Short, Medium and Long term.
Price Action: SpaceX shares were up 1.14% to $151.16 during after-hours trading on Tuesday.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo courtesy: Shutterstock
Recent Comments