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Markets · Investing · Business
Finance
Analyst to SpaceX Investors: You're Valuing SpaceX Like AI Is Almost Worthless
SpaceX says AI will drive its profit. Are investors right to be skeptical?
A funny thing happened when Space Exploration Technologies(NASDAQ: SPCX) reported earnings this month. First, SpaceX declined 13.6% despite beats on both earnings per share and sales for the company. SpaceX lost only $0.09 per share in the quarter, where Wall Street had predicted a $0.29-per-share loss. Sales of $7.8 billion eclipsed forecasts by $1 billion.
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Potentially worse news for investors, the earnings announcement triggered a "lock-up" expiration, permitting SpaceX insiders to sell 20% of their stock. A second lock-up expires later this week, when SpaceX passes the 70-days-after-IPO mark, allowing another 7% of the stock to be sold.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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