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[BUSINESS] · United States · 48 sources

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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)

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Sources

SPCX Breakout - SharePlanner [www.shareplanner.com]
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