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SpaceX stock faces first earnings report after IPO selloff
Investors will focus on management updates for AI, Starlink, and launch operations after the shares fell below the $135 IPO price and are down 49% from their June 16 peak.
SpaceX’s first quarterly earnings report is expected to be a key test for investor sentiment after the company’s IPO debut was followed by a sharp decline in the stock. Shares soared at the start of trading but later slid amid concerns about valuation levels, mounting losses, and heavy spending, according to LiveMint Markets citing Reuters.
SpaceX went public in June at $135 per share, then jumped to about $225 in the first days before dropping below the offering price. The stock closed Monday at $114.53, down 15% from the IPO level and 49% from its June 16 high, wiping out more than $1 trillion in market value from that peak.
After a rough July, the shares rose 5.7% on Monday following a 37% tumble in July, and they were up again early Tuesday, climbing 3.2% to roughly $118. The report is expected to provide investors a clearer view of earnings expectations and what management says about progress in AI, Starlink, and space ambitions.
Wall Street is looking for a second-quarter loss of 24 cents per share on $6.8 billion in revenue, LiveMint Markets said. Analysts have also widened their loss estimates by 18% over the past month, underscoring how much uncertainty remains about the business and its timing to profitability.