异动解读08-06
SpaceX（SPCX）今日盘中股价大跌12.82%，引发市场广泛关注。尽管公司此前发布的上市后首份财报显示营收同比增长92%至约78亿美元，远超市场预期，但巨额资本开支以及即将到来的大规模解禁潮令投资者情绪承压。
消息面上，导致股价重挫的核心原因之一是AI相关资本支出的急剧膨胀。财报显示，SpaceX二季度资本开支高达183.69亿美元，较上年同期的28.25亿美元激增逾六倍，其中约158亿美元投向AI算力基础设施。公司首席财务官明确表示，未来两个季度的资本支出将维持在这一高位水平。市场对如此巨大的烧钱速度能否换来相应回报存在疑虑，这成为压制股价的主要利空因素。
此外，SpaceX即将迎来上市后的首次大规模限售股解禁，进一步加剧了市场的恐慌情绪。美东时间8月6日，约9.115亿股内部人士持股将解除限售，按此前收盘价计算涉及市值超过1140亿美元，约为当前流通盘的1.4倍，这将是美国资本市场历史上最大规模的一次锁定期解禁。市场担忧早期投资者和员工在解禁后集中抛售，给股价带来额外的供给压力。
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