Elon Musk's aerospace company SpaceX saw its stock rise 3% on Tuesday following its debut earnings report.
SpaceX shares gained 3% on Tuesday, ending a seven-day losing streak following the company's first earnings report as a public entity. The administration announced that the report, scheduled for August 4, also triggers a unique staggered lock-up period. This structure allows insiders to begin selling shares earlier than the standard 180-day window to minimize price volatility. Investors can now sell 20% of eligible locked-up stock, totaling up to 911.5 million shares, on August 6. An additional 10% may be freed if the stock maintains a 30% premium over its IPO price for five of the ten trading days preceding the report. While the stock has faced pressure from short sellers, SpaceX remains a primary focus for investors following its record $85.7 billion initial public offering in June. The company continues to advance its Starship rocket and Starlink satellite service, while also expanding into cloud computing through its SpaceXAI division.