SpaceX sheds more than 500 billion dollars in market value ahead of its first earnings report

SpaceX, whose shares first traded on 12 June 2026, has since lost more than 500 billion dollars in market capitalisation and now trades more than 50 percent below its intraday high. The stock has just completed its fourth consecutive weekly loss and closed at 108.37 dollars on Friday 31 July. The company's market capitalisation currently stands at about 1.4 trillion dollars.

SpaceX is scheduled to publish its first earnings report as a public company after the closing bell on Tuesday 4 August. Its price to sales ratio on trailing revenue is in the 70s, the business is burning billions of dollars a quarter, and it carries almost twice as much debt as cash. Rolling lock up restrictions on early investors also begin to expire in the coming days.

Matthew Unterman, head of research at S3 Partners, said short sellers were up about 8.3 billion dollars in paper profits on the stock between the listing and Friday 31 July. New Street Research initiated coverage shortly before the offering with a price target of 165 dollars.