SpaceX Shares Fall 7% Despite Earnings Beat as Lockup Expiry Looms

SpaceX's first quarterly results as a public company beat expectations, yet shares fell 7% in late trading on August 4, 2026. Investors priced in the unlock of 911.5 million employee and early-investor shares scheduled for August 6. A second tranche of 1.3 billion shares remains locked until June 2027. Elon Musk cannot sell until 366 days post-IPO.