SpaceX stock has gone nowhere since its record initial public offering, closing at $152.71 on Friday versus $160.95 on its June 12 debut, about 5% below where it started. The business itself is far from stalled: second-quarter revenue rose 92% year over year to $7.8 billion, a sharp acceleration from 15% growth in the first quarter, while the net loss narrowed to $541 million from $1.0 billion a year earlier. The Aug. 4 report also revealed capital expenditures of $18.4 billion in the quarter, more than double revenue, with $15.8 billion of that in the artificial intelligence segment, up from $749 million a year earlier. SpaceX sold about 639 million shares in the IPO but has more than 13 billion outstanding, and lockup releases of roughly 328 million shares each are scheduled for Sept. 24, Oct. 9 and Oct. 24, with about 1.3 billion more two trading days after the third-quarter report and about 800 million on Dec. 8; CEO Elon Musk's roughly 6.4 billion shares stay locked until next June. The company went public at a valuation near $1.8 trillion, about 94 times sales at the first quarter's annualized pace, and now trades near $2 trillion, or about 65 times sales, while Starship's first orbital attempt is targeted for Sept. 28 after a six-day delay.
Space Exploration Technologies Corp. Class A Common StockSpaceX shares flat since IPO as heavy AI capex, widening losses, and upcoming lockup releases weigh on the stock.
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