异动解读08-05
SpaceX（SPCX）今日盘后大跌5.23%，引发市场广泛关注。尽管公司刚刚公布的上市后首份季度财报显示营收远超市场预期，但即将到来的大规模限售股解禁以及高企的空头仓位，令股价承压下行。
消息面上，SpaceX发布了上市以来的首份季度财报。数据显示，公司第二季度营收达到78亿美元，同比增长92%，显著超出市场预期的69.3亿美元；每股亏损0.09美元，远好于预期的亏损0.24美元；AI业务板块经营亏损12.6亿美元，仅为市场预期亏损23.9亿美元的一半。此外，公司期末现金及有价证券达1000亿美元，积压订单规模为475亿美元，账面资金充裕。
然而，业绩全面超预期并未能提振股价。核心原因在于，8月6日SpaceX将迎来上市后的首轮限售股解禁，约9.115亿股股票将获得流通资格，潜在解禁市值接近千亿美元。与此同时，据S3 Partners数据，当前SpaceX空头仓位占流通股比例已高达34%，做空力量强劲。市场担忧解禁潮带来的供给冲击将令股价持续承压，这一预期压制了业绩利好对股价的提振作用。
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