SpaceX stock hits new closing low in rocky week ahead of earnings
Pras Subramanian· Senior Reporter
Sat, August 1, 2026 at 1:41 AM GMT+5:30
2 min read
- SPCX
-3.41% - TSLA
+0.76%
SpaceX (SPCX) stock whipsawed through a volatile week, swinging from an all-time low to a sharp rebound and closing at a new low, as investors braced for the newly public company’s first earnings report and a major share unlock
SpaceX closed down 3.4% on Friday to finish at $108.37. During an up-and-down week that swung from gains to losses, the stock ended on a down note, falling about 5.8% for the week
SpaceX stock has shed approximately 30% from its $150 market debut last month and remains down roughly 50% from its all-time high of $225.64
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108.37-3.83(-3.41%)
At close: July 31 at 4:00:00 PM EDT
The swings come ahead of SpaceX’s second quarter earnings, due Aug. 4. But a bigger overhang is a lockup expiration on Aug. 6 that will free as much as 20% of shares for sale under the company’s lockup plan. Many investors worry that the added supply will keep the stock under pressure
In addition, CEO Elon Musk is reportedly still pushing for a merger between SpaceX and Tesla (TSLA). TheWall Street Journal reported on Friday that executives are trying to decide how to dispose of Tesla’s China business in the event of a merger. SpaceX’s government and national defense contracts could be a concern for the Chinese government
“A potential merger between SpaceX and Tesla would likely trigger intense scrutiny from Beijing, given that a major U.S. defense contractor would control Tesla’s factories in China and the factories’ know-how and supply chain could be repurposed for the U.S. military,” the Journal reported
Another concern for China would be SpaceX — and potentially the US government — getting data from China’s 2 million Tesla owners
Merger talk aside, when SpaceX reports results next week, investors will have a close eye on SpaceX’s capital expenditures, S&P Global Visible Alpha analyst Melissa Otto wrote
“SpaceX’s capex numbers are expected to increase from $48.7 billion this year to $118.4 billion in FY 2028. … In addition, SpaceX’s overall debt is also projected to grow over 5x from $41.7 billion this year to over $218.0 billion in FY 2028,” Otto noted
The concern with SpaceX’s large capital requirements — like those of the large AI frontier startups and even Oracle (ORCL), Alphabet (GOOGL), and Meta (META) — is that its AI infrastructure investments will not generate a healthy return given the level of cash required
Pras Subramanian is Lead Transportation Reporter for Yahoo Finance. You can follow him onXand onInstagram
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