SpaceX shares rise 4% ahead of its first public earnings report, sparking a broader rally in space stocks amid a July selloff reversal.
SpaceX shares climbed 4% to $119 ahead of its first earnings report as a public company, due after market close. AST SpaceMobile and Rocket Lab followed, rising 9% and 6% to $69 and $74.34, respectively, reversing a 27% sector-wide decline in July.
The rally comes as SpaceX prepares to release Q2 results, with an analyst call led by CEO Elon Musk scheduled for 4:30 p.m. ET. The company’s IPO lockup expires Thursday, releasing 911 million shares valued at roughly $100 billion, adding potential supply pressure.
Traders appear to be positioning for the report, though the sector’s rebound may reflect oversold conditions rather than a specific catalyst. SpaceX stock has underperformed recently, down 27% over the past month, mirroring Rocket Lab’s 26% decline.