Since its June peak of $225.64, SpaceX (SPCX.O) has lost more than $1.2trn of
market value, roughly equal to Tesla's entire market cap. Tesla shares are
trading near a one-year low. Elon Musk's net worth has fallen to about $710bn
from a mid‑June record above $1.3trn. Charles Moon, tech and momentum strategist
at Prosper Trading Academy, said: "As an investor it's too early; but as a
trader, Wall Street is punishing AI stocks for capex." SpaceX will report its
first post‑IPO earnings next week; on the second full trading day after the
report (Aug 6) holders may sell up to 20% of qualified lock-up shares, about
911.5m shares. Analysts say the lock-up expiry may not be as bad as feared but
is unlikely to reverse the share decline.
