On August 5, SpaceX declined 7.53% overnight, trading at $115.5/share, with turnover of $771,900. The stock fell sharply following the release of its first quarterly earnings report since going public, as massive capital expenditure and imminent lock-up expiration pressured the stock despite a strong top-line beat.
SpaceX reported Q2 revenue of $7.8 billion, up 92% year-over-year, significantly exceeding the consensus estimate of $6.9 billion. Adjusted EBITDA surged 191% to $3.5 billion versus the $2 billion expected. The AI segment posted an operating loss of $1.26 billion, far better than the $2.39 billion loss anticipated. However, total capital expenditure reached $18.4 billion for the quarter, with AI-related spending at $15.8 billion, and the CFO explicitly stated that spending levels would remain similar over the next two quarters.
Compounding concerns, approximately 911 million restricted shares are set to unlock on August 6, representing nearly $100 billion in potential selling pressure. Short interest currently stands at 34% of the float. The combination of aggressive AI investment commitments and a massive supply overhang offset the earnings beat, driving the stock lower.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
