On August 5, SpaceX declined 7.48% in pre-market trading, trading at $115.445/share, with turnover of approximately $26.74 million.
The decline followed SpaceX's release of its first quarterly earnings report since its June IPO. While Q2 revenue of $78 billion surged 92% year-over-year and significantly exceeded the $69 billion consensus estimate, the market focused on the alarming scale of AI-related capital expenditure. Total Q2 capex reached $184 billion, of which $158 billion was allocated to AI computing infrastructure. The CFO explicitly stated that spending levels would remain similarly elevated over the next two quarters.
Compounding the pressure, approximately 912 million restricted shares are set to unlock on August 6, representing potential selling pressure approaching $100 billion. Short interest currently stands at 34% of the float, indicating substantial bearish positioning. The combination of aggressive AI spending commitments and imminent supply overhang effectively offset the strong top-line 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.)
