Explore the latest developments concerning SpaceX's big week:.
SpaceX's big week: Stock jumps despite earnings storm, lock-up expiration in crucial test for investors
SpaceX (SPCX) closes out a pivotal week solidly in the green, with the stock fighting higher over the past five sessions after reporting its first earnings report as a public company and the largest share unlock in its brief trading history.
The two events amounted to back-to-back stress tests, either of which could have sent the stock sharply lower. Instead, the Elon Musk-led rocket company weathered both.
SpaceX stock jumped 15.8% on Friday for its best day ever, continuing the late-week momentum to finish up nearly 23% for the week. It was SpaceX's highest close since July 15th.
Space's big week opened ominously with second quarter results on Tuesday that topped estimates, with revenue and adjusted EBITDA coming in well above expectations – but the stock didn't comply.
Elon Musk Says SpaceX Will Generate $1 Trillion in Revenue by 2030. Time to Buy the Stock?
Space Exploration Technologies (SPCX -0.91%) posted its second-quarter financial results on Aug. 4. The company's performance was strong. Revenue soared 92% year over year to $7.8 billion, while it almost cut its net losses in half, from $1 billion in the year-ago period to $541 million this time around. However, perhaps management commentary was even more noteworthy. And one thing in particular that SpaceX's CEO, Elon Musk, said deserves investors' attention. Let's dig in.
During SpaceX's second-quarter earnings conference call, Elon Musk talked about internal revenue projections. He said the company now expects to reach $1 trillion in revenue by 2030, up from its previous 2031 target. So far this year, SpaceX has generated about $12.5 billion in revenue. Analysts expect an average of about $44.58 billion for the full fiscal year 2026.
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