SpaceX Q2 revenue was $7.814 billion, up 92% year-on-year, and EBITDA surged 191%.
Then in the after-hours session, it plunged more than 7%, with a market cap loss of nearly 100 billion.
Strong performance, and the stock also exploded—two things happened at the same time.
The reason is straightforward: 320 million shares are due to be unlocked this week, and early investors are taking profits.
Plus, Starship No. 40 took 24 days to tow back from the Indian Ocean to Christmas Island, and concerns about the heat-shield tiles remain in the industry. Musk said the heat-protection shield issue has been resolved, but the market doesn’t seem to buy it.
This is the harsh reality of the secondary market: when the good news is fully priced in, it becomes bad news. After the unlock-related selling pressure gets dumped, will you jump in or stay on the sidelines? #SpaceX $SPCX
Then in the after-hours session, it plunged more than 7%, with a market cap loss of nearly 100 billion.
Strong performance, and the stock also exploded—two things happened at the same time.
The reason is straightforward: 320 million shares are due to be unlocked this week, and early investors are taking profits.
Plus, Starship No. 40 took 24 days to tow back from the Indian Ocean to Christmas Island, and concerns about the heat-shield tiles remain in the industry. Musk said the heat-protection shield issue has been resolved, but the market doesn’t seem to buy it.
This is the harsh reality of the secondary market: when the good news is fully priced in, it becomes bad news. After the unlock-related selling pressure gets dumped, will you jump in or stay on the sidelines? #SpaceX $SPCX