SpaceX Shares Plunge 13% As Elon Musk’s Fortune Sheds $80 Billion—Here’s What Analysts Are Saying
The selloff comes as 911.5 million shares become eligible to trade, raising concerns about added supply despite $7.8 billion in quarterly revenue.
- SpaceX reported $7.8 billion in second-quarter revenue, a 92% increase that beat Wall Street expectations by nearly $1 billion, yet shares fell nearly 12% at market open.
- Across the sector, Microsoft, Alphabet, Amazon, and Meta Platforms announced record capital spending this year to expand AI capacity. Capital expenditures reached $18.4 billion, with nearly $16 billion dedicated to AI-specific infrastructure.
- Management disclosed $14.1 billion in contracted cloud services agreements, including major customers Anthropic and Google, demonstrating robust demand. AI-specific revenue reached $2.6 billion, climbing 213% sequentially as enterprise demand accelerated.
- Tomorrow marks the expiration of a major IPO lockup, allowing employees and early investors to sell shares for the first time. According to SEC filings, roughly 911.5 million shares become eligible to trade.
- Shares have already fallen about 50% from their post-IPO high and now trade near $112, roughly 25% below the $150 opening price and 17% below the $135 IPO offer. Ultimately, smart investors should separate the business from the stock.
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SpaceX's 911.5 Million Share Unlock Hits Tomorrow. What Investors Need to Know.
Key PointsUp to 911.5 million SpaceX shares become eligible for sale tomorrow.While Q2 revenue surged 92% to $7.81 billion, the stock tanked more than 10%.Early investors and employees sitting on paper gains may rush to sell after watching the stock get hammered since the IPO.10 stocks we like better than Space Exploration Technologies › Up to 911.5 million shares of Space Exploration Technologies Corp. (NASDAQ:SPCX) become eligible for sale tom…
SpaceX shares fell by almost 13% on Wednesday after publishing the company's first financial results, with investors worried about the explosion of artificial intelligence spending and the near expiration of restrictions that allow insiders to sell their shares, CNBC reports.
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