SpaceX (SPCX) stock came back under pressure on Wednesday, reversing yesterday's bounce, as a broader market and tech sell-off adds to investor caution ahead of ****** eX's first earnings report.
Shares were down nearly 3%, giving back Tuesday's rebound. ****** eX has now shed nearly 30% from its $150 market debut last month and is down roughly 50% from its all-time high of $225.64.
The broader market was also under pressure, with the S&P 500 down 0.8% and the Nasdaq shedding 1%, as chipmakers weighed on the index.
Concern has been building ahead of ****** eX's second quarter earnings report set for August 4th, with a share unlock on August 6th too that frees as much as 20% of shares under the company's lockup plan.
The renewed selling comes days after Starship launched Friday evening from Starbase, Texas, on its 13th test flight — the first since ****** eX's June IPO. Starship deployed all 20 of its next-generation Starlink V3 satellites, relit an engine in ****** e, and made what ****** eX called its softest ocean splashdown yet.
#SpaceX #shares #ahead
Shares were down nearly 3%, giving back Tuesday's rebound. ****** eX has now shed nearly 30% from its $150 market debut last month and is down roughly 50% from its all-time high of $225.64.
The broader market was also under pressure, with the S&P 500 down 0.8% and the Nasdaq shedding 1%, as chipmakers weighed on the index.
Concern has been building ahead of ****** eX's second quarter earnings report set for August 4th, with a share unlock on August 6th too that frees as much as 20% of shares under the company's lockup plan.
The renewed selling comes days after Starship launched Friday evening from Starbase, Texas, on its 13th test flight — the first since ****** eX's June IPO. Starship deployed all 20 of its next-generation Starlink V3 satellites, relit an engine in ****** e, and made what ****** eX called its softest ocean splashdown yet.
#SpaceX #shares #ahead
2 months ago
