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SpaceX lockup unlock drives share rise after strong Q2 earnings
The first post‑IPO lock‑up expiration released about 911 million SpaceX shares, worth over $100 billion, raising the tradable float from roughly 5 % to about 40 % of the company. The added supply was quickly priced in, and the stock rose 1.4 % on the day, with pre‑market gains of nearly 5 % after Bernstein lifted its price target to $248. Over the week the shares climbed roughly 18 %.
SpaceX’s Q2 2026 earnings beat expectations: revenue hit $7.81 billion, up 92 % year‑on‑year; net loss narrowed to $541 million; adjusted EBITDA rose to $3.5 billion, a 191 % increase. The AI segment generated $2.56 billion (up 247 % YoY) and capital spending reached $18.4 billion, of which $15.8 billion was devoted to AI infrastructure. Starlink’s Connectivity business posted $4.29 billion in revenue (up 66 % YoY) with 12 million subscribers and an average revenue per user of $66.
Analysts noted the large unlock could increase short‑term selling pressure, but early investors appear to have held back, limiting price impact. Options activity showed sophisticated traders betting on a bottom, while short‑interest pressure eased. The company’s AI‑heavy spending plan remains a focal point for investors.
Entities
AI segment · ARK Investment Management (Cathie Wood) · Bernstein · Bitcoin · Bret Johnsen · Elon Musk · Morgan Stanley · NASDAQ · Nasdaq · Nvidia · Oppenheimer · Space Exploration Technologies Corp. (SpaceX)
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 7 SOURCES] SpaceX posted a net loss of $541 million, EPS ‑$0.09. www.ibtimes.co.uk · wtop.com · mymotherlode.com · wkzo.com · jablickar.cz · +1 more
- [● 3 SOURCES] SpaceX shares fell more than 13 % after earnings, closing at $108.27. www.ibtimes.co.uk · wkzo.com · wtop.com
- [○ 1 SOURCE] Up to 20 % of restricted SpaceX shares could be sold after lock‑up expiry on the second trading day post‑earnings. wkzo.com
- [● 7 SOURCES] Approximately $15.8 billion of SpaceX capex was allocated to AI infrastructure. www.ibtimes.co.uk · wtop.com · mymotherlode.com · wkzo.com · jablickar.cz · +1 more
- [● 7 SOURCES] SpaceX capital expenditures rose to $18.4 billion, six times the previous quarter. www.ibtimes.co.uk · wtop.com · mymotherlode.com · wkzo.com · jablickar.cz · +1 more
- [● 6 SOURCES] SpaceX reported Q2 revenue of $7.81 billion, up 92 % year‑on‑year. wkzo.com · www.ibtimes.co.uk · jablickar.cz · www.letemsvetemapplem.eu · wtop.com · +1 more
- [● 3 SOURCES] Elon Musk said SpaceX aims for $1 trillion in annual revenue by 2030, with a non‑zero chance of reaching it as early as 2029. www.businessinsider.jp · www.ibtimes.co.uk · wkzo.com
- [● 5 SOURCES] SpaceX's adjusted EBITDA rose to $3.54 billion, up 191 % year‑on‑year. www.ibtimes.co.uk · wtop.com · mymotherlode.com · wkzo.com
- [● 2 SOURCES] Some analysts forecast SpaceX's share price could reach $300 by mid‑next year. wtop.com · mymotherlode.com
- [○ 1 SOURCE] SpaceX held 18,712 Bitcoin and recorded an unrealized loss of $540 million due to a 33 % price decline.
- [● 4 SOURCES] About 911 million SpaceX shares, roughly 7 % of the float, became tradable on the first lock‑up expiry. paratic.com · wkzo.com
- [● 5 SOURCES] SpaceX Q2 revenue was $7.81 billion, up 92 % year‑on‑year. wtop.com · mymotherlode.com · wkzo.com · www.ibtimes.co.uk