SpaceX Stock Drops Over $1.2 Trillion in Market Cap Ahead of Q2 Earnings
SpaceX's stock has lost over $1.2 trillion in market capitalization since its June peak, a decline comparable to Tesla’s current valuation. The drop follows 13 losing sessions out of the last 16 trading days and continued with more than 3% premarket losses on Tuesday. SpaceX is set to release Q2 earnings after market close on August 4, marking its first report as a public company. The earnings announcement also triggers a lockup expiration allowing insiders to sell up to 911.5 million shares starting August 6. Options activity has been mixed, with put volume outpacing calls and most of the premium concentrated in puts despite some bullish trades. Analysts suggest that investors are reacting negatively to high capital expenditures among AI stocks. The decline is part of a broader July sell-off affecting large-cap tech firms like Alphabet, which lost over $375 billion this month. SpaceX's stock recently fell below its IPO price after an initial 40% gain in the first two trading sessions following its record-breaking $85.7 billion June IPO.
Topics: earnings report lockup expiration market cap loss SpaceX stock price decline