Why Did SpaceX Stock Drop Today -- Then Pop?
Shares fell to a record low ahead of SpaceX’s first public earnings report and a lockup expiration that could release up to 37% of insider-held stock.
- On Monday, SpaceX shares fell to a record closing low of $113.50 despite the 13th successful Starship flight on Friday, which deployed 20 Starlink V3 satellites and achieved every major test objective.
- A looming insider lockup expiration next month could unleash up to 37% of insider-held shares; the company's valuation has fallen by more than $1 trillion since the June IPO.
- Bernstein SocGen analyst Douglas Harned reiterated an 'outperform' rating, insisting the stock is worth $239. Elon Musk predicts orbital artificial intelligence data centers will unlock a $28.5 trillion market.
- Clayton Swope, deputy director of the Aerospace Security Project, says "The future of the company is riding on the ability to make Starship work." He compares the transition to switching from a 'pickup truck' to a 'freight train' for scale.
- Musk joked about his falling net worth on Friday, calling himself a " Trillionaire." The company's first earnings report as a public firm is due Aug 4, providing the next major market indicator.
11 Articles
11 Articles
SpaceX Hits Record Low Despite Starship Success
SpaceX's biggest rocket has notched one of its most successful test flights yet, but investors are still hitting the sell button. The company flew Starship for the 13th time on Friday, completing every major goal on what was only the second flight of its third-generation vehicle: deploying 20 Starlink V3...
SpaceX (SPCX) Shares Plunge 50% From Peak as Lock-Up Period Ending Looms
Key Highlights SPCX reached a record low of $109.53 on Monday, marking approximately a 50% decline from its peak of $225.64 Shares have declined nearly 30% below the company’s $150 initial public offering price from last month First quarterly earnings report scheduled for August 4, with significant lock-up period ending August 6 that could release up to 20% of restricted shares Flight 13 of Starship completed successfully, releasing 20 Starlink…
Why SpaceX stock is tanking over 5% on Tuesday
SpaceX (SPCX) shares extended their decline on Tuesday as investors continued to weigh the prospect of a wave of insider share sales ahead of the company's first post-IPO lock-up expiration. The SpaceX stock fell more than 5% to around $107, well below its IPO price of $135. The broader market was mixed, with the S&P 500 little changed while the Nasdaq Composite fell 0.7%. The VanEck Semiconductor ETF declined 3%, led by a 9% drop in Micron. Spa…
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