What Happened
Investors Bracing for First Earnings Report and Share Unlock
SpaceX stock experienced a rocky week, closing at a new low of $108.37 ahead of its first earnings report and a major share unlock. The company’s stock has shed approximately 30% since its market debut last month and remains down roughly 50% from its all-time high. CEO Elon Musk is reportedly pushing for a merger between SpaceX and Tesla, which could trigger intense scrutiny from Beijing due to SpaceX’s government and national defense contracts. This development was first reported by Yahoo Finance.