SpaceX (NASDAQ:SPCX | SPCX Price Prediction) stock rose 2% to $149.02 during the afternoon session after the company reported that its Starship vehicle reached orbit and deployed satellites for the first time.

Starlink’s consumer roster is also improving. SpaceX reported 12 million subscriber service lines as of June 30, double the 6 million reported a year earlier, although average monthly revenue per subscriber fell to $66 from $85 as international expansion and cheaper plans shifted the consumer mix.

SpaceX is set to make history with its Starship rocket's inaugural orbital launch. This ambitious mission will transport 26 Starlink Version 3 satellites to low Earth orbit, all while showcasing its orbital capabilities.