SpaceX shares tumble 11% despite revenue surge and looming lockup
SpaceX stock dropped 11% on August 5, 2026, as investors worried about the company's huge spending and a looming insider share lockup, with 911.5 million shares potentially becoming eligible for sale.
This comes right after SpaceX reported a massive 92% jump in revenue to $7.8 billion, but those gains were overshadowed by $18.4 billion spent on Starlink, Starship, and AI projects, leading to a net loss of $541 million.
SpaceX price targets diverge
SpaceX also took a $195 million hit from its bitcoin holdings, adding more uncertainty.
With 911.5 million shares could become eligible for sale at Thursday's lock-up expiration, some analysts are cautious: JPMorgan raised its price target to $240 but flagged concerns over future spending possibly reaching $200 billion per year.
On the bright side, Raymond James kept its upbeat $800 target, saying SpaceX is still performing well despite these bumps.