SpaceX stock loses $1.2 trillion in market cap before Q2 earnings

SpaceX banal has erased much than $1.2 trillion successful marketplace capitalization since its June high, a diminution astir equivalent to the full existent marketplace worth of Tesla, arsenic the institution prepares to station its archetypal net study arsenic a nationalist institution adjacent week.

The banal dropped much than 1% connected Monday, ending astatine $113.50 aft notching its 13th losing league crossed the anterior 16 trading days, and extended those losses by astir 3% successful Tuesday's premarket. The diminution from SpaceX's intraday highest of $225.64, reached successful June, present exceeds the existent marketplace worth of Tesla — whose banal has besides fallen to adjacent one-year lows.

SpaceX volition merchandise second-quarter 2026 results aft marketplace adjacent connected August 4, the institution said. Management volition big a unrecorded audio-only webcast astatine 4:30 p.m. ET the aforesaid day, with the lawsuit besides streamed connected X.

The net study carries further value beyond the fiscal results themselves. Under the presumption of SpaceX's post-IPO lockup agreement, the merchandise opens a model for insiders to offload up to 20% of their restricted shares — a excavation totaling arsenic galore arsenic 911.5 cardinal shares — with income permitted opening August 6, the 2nd afloat trading time aft the report, according to CNBC.

Options enactment astir the banal has been uneven. Put measurement outpaced calls connected Monday, and contempt that imbalance, the bulk of the session's $442 cardinal successful full options premium was concentrated connected the enactment side, according to CNBC. Among the 5 largest azygous trades measured by premium, 4 carried a neutral oregon bullish lean, per Cboe LiveVol data, with a brace of put-spread income among them — structures that lone nett if SpaceX shares ascent from existent levels.

"As an capitalist it's aboriginal — arsenic a trader, Wall Street is present punishing the AI stocks for capex," Charles Moon, a tech and momentum specializer for Prosper Trading Academy, said.

SpaceX's losses are portion of a broader July pullback successful large-cap exertion stocks. SpaceX and Tesla unneurotic person shed astir $1.2 trillion successful marketplace worth this month, portion Alphabet has mislaid much than $375 billion, according to Yahoo Finance.

SpaceX crossed beneath its $135 IPO terms for the archetypal clip past week, completing a reversal from the much than 40% summation the banal logged successful its archetypal 2 trading sessions. The institution raised $85.7 cardinal successful its June archetypal nationalist offering — the largest successful past — and posted a nett nonaccomplishment of $4.9 cardinal successful 2025 and an further $4.28 cardinal nonaccomplishment successful the archetypal 4th of 2026.