SPCX Stock Faces Key Week Ahead of Earnings Report
SpaceX, trading under the ticker SPCX, prepares to report its first quarterly earnings as a public company on August 4. The stock is currently valued at around $109 per share, down significantly from both its year-to-date high and IPO price. A major event following the earnings release will be the lockup expiration of approximately 911.5 million shares on August 6, which could increase market pressure by more than doubling the current float. Short interest in SPCX has surged to about 34% of its tradable float, valued at $24.6 billion—making it one of the most shorted large public firms in the U.S. Analysts from Morgan Stanley maintain an 'Overweight' rating on SPCX with a price target of $300 per share but note that over two-thirds of recent investor meetings have been bearish about its prospects through year-end. The company is expected to report revenue around $6.75 billion for the quarter, along with adjusted EBITDA near $2 billion and an estimated loss of approximately $0.26 per share.