SpaceX shares rise even as company insiders get a chance to sell for the first time
- SpaceX shares rose 6.1% to close at $114.92 on Thursday.
- Over 900 million shares became newly available for trading due to the expiration of lockup provisions.
- The stock had dropped nearly 14% the day before, marking one of its biggest declines since going public.
- Morgan Stanley analyst Adam Jonas predicts the stock could rise to $300 by mid-next year.
- SpaceX reported a loss of $541 million for the three months through June, but revenue increased to $7.8 billion.
Stock in Elon Musk’s space company rose Thursday even after many SpaceX insiders were freed up to sell for the first time. Investors in SpaceX had pushed the shares down sharply in recent days in anticipation of insiders possibly selling in the first of several so-called lockup expirations.
More than 900 million shares became newly available to buy or sell with Thursday’s release, doubling what was available previously. SpaceX shares rose 6.1% to close at $114.92, recovering from a significant drop the day before.
Morgan Stanley analyst Adam Jonas noted that the expiration of lockup provisions was an opportunity for others to enter the stock at a lower price. He believes the stock could rise to $300 by the middle of next year, nearly triple its current level. Earlier this week, SpaceX reported a loss of $541 million for the three months through June, but revenue increased significantly compared to the previous year.
Investors are becoming increasingly nervous about high capital spending in technology companies, which has led to sell-offs in the market. The stock's volatility follows its initial public offering, where shares briefly reached as high as $225, making Musk a trillionaire before the subsequent decline in value.
SpaceX股票上涨，尽管公司内部人士首次获得出售机会
埃隆·马斯克的太空公司股票在周四上涨，尽管许多SpaceX内部人士首次获得出售机会。近期，投资者因预期内部人士可能会在首次锁定期到期后出售股票，导致该股票大幅下跌。
随着周四的解禁，超过9亿股股票首次可供买卖，交易量是之前的两倍。SpaceX股票上涨6.1%，收于114.92美元，部分恢复了前一天的显著下跌。
摩根士丹利分析师亚当·乔纳斯指出，锁定期的到期为其他投资者以较低价格进入该股票提供了机会。他认为，该股票到明年中期可能上涨至300美元，几乎是当前水平的三倍。本周早些时候，SpaceX报告称截至6月的三个月内亏损5.41亿美元，但与去年相比，收入显著增长。
投资者对科技公司高额资本支出越来越感到紧张，这导致市场出现抛售。该股票的波动性源于其首次公开募股，股票曾一度达到225美元，使马斯克成为万亿富翁，随后却出现价值下滑。