SpaceX's stock has been under pressure, losing nearly half its value since its peak in mid-June, which has attracted short sellers, with about a third of the company's public float now shorted. The upcoming earnings report is pivotal as it allows insiders to sell 20% of their locked-up shares, potentially leading to increased selling pressure if the stock does not perform well.
Additionally, if SpaceX's stock closes at least 30% above its IPO price for five of the ten trading days leading up to the report, another 10% of shares could be released. Elon Musk has publicly criticized short sellers, asserting that their long-term survival is unlikely.
Meanwhile, SpaceX is also focused on its upcoming rocket launches, including the Falcon 9 carrying Starlink satellites and the Starship rocket, which is essential for its future projects, including NASA's Artemis program. The company is also expanding its cloud computing capabilities, having acquired Musk's AI venture and securing contracts with major tech firms.
Investors are keenly observing how these developments will affect SpaceX's stock and its potential collaboration with Tesla, especially regarding Musk's plans for a chip factory in Texas