SpaceX Surges 10%, Snaps 4-Week Losing Streak
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- SpaceX stock rose 10.4% to $126.81 on Friday, putting shares up 17% for the week and ending a four-week losing streak that had erased 33% of value from a $135 IPO price.
- SpaceX reported Q2 sales of $7.8 billion and Ebitda of $3.5 billion, topping Wall Street estimates of $6.8 billion and $2.1 billion; analysts now project 2027 revenue near $102 billion, up from $72 billion at the end of July.
- Retail shareholders absorbed roughly $4.5 billion in losses after receiving about 20% of IPO shares and adding at least $3.6 billion more at an average price near $150, per JPMorgan's Arun Jain.
- Lockup expirations released 912 million shares on Thursday, muddying whether Friday's rally reflects genuine enthusiasm for the earnings beat or bearish investors unwinding short bets.
- The broader market moved modestly higher, with the S&P 500 up 0.5% and the Dow Jones Industrial Average up 0.3% on the same session.
Why it matters: Retail investors were the ones left holding the bag through SpaceX's 33% slide — absorbing roughly $4.5 billion in losses while institutions sold at higher prices — and Friday's 10% pop only partially repairs the damage with shares still 6% below the $135 IPO price. With 912 million shares unlocked Thursday adding fresh supply, a true read on whether the earnings beat holds won't come until early 2027 when the lockup overhang fades.
