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SpaceX IPO: Unlock Event Looms Large
21 Jun
Summary
- SpaceX's IPO saw a $75 billion valuation, the largest ever.
- Lockup expirations and the first earnings report will impact shares.
- Starlink drove significant revenue but also substantial net losses.
SpaceX's initial public offering, the largest ever at $75 billion, has experienced considerable stock price fluctuations since its June 11 pricing. Despite a strong debut, shares have since pulled back from their peak, though they remain above the offer price.
However, investors should anticipate more significant market movements in late July or early August. This period will see the convergence of two key events: SpaceX's first quarterly earnings report and the opening of the first lockup expiration window. Eligible holders will be permitted to sell a portion of their shares, potentially increasing supply.
The upcoming earnings report will offer the first detailed financial look at SpaceX since its IPO, with results for the second quarter of 2026 anticipated in late July or early August. While Starlink generated substantial revenue, approximately $11.4 billion in 2025, the company reported a net loss of about $4.9 billion for the same year.
