On September 1, Howmet Aerospace Inc. rose 4.13% in regular trading, trading at $253.76/share, with turnover of $164 million. The stock had earlier plunged over 9% to an intraday low of $240.38 following confirmation that SpaceX plans to build its own gas turbine blade foundry in Bastrop, Texas.

The rebound was driven by back-to-back bullish reports from Citi and Bernstein, both arguing the market drastically overreacted to the SpaceX news. Citi noted that SpaceX's move actually validates the massive power demand from AI data centers and the extreme scarcity of gas turbine capacity, rather than signaling a deterioration in Howmet's competitive position. Bernstein echoed this view, pointing out that SpaceX's decision reflects supply-side capacity tightness rather than a threat to Howmet's market dominance, and maintained its Outperform rating. Bernstein further highlighted that Howmet holds long-term supply agreements with major gas turbine manufacturers extending through 2030, ensuring demand resilience.

The stock had previously fallen approximately 7.5% to $244.95 following the SpaceX announcement, retreating roughly 20% from its recent historical high. Currently, only about four companies globally possess mass-production capability for large gas turbine hot-section blades, with Howmet and PCC together commanding over 70% market share.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)