🔴 SpaceX is trading 11.9% down today on $15.8B AI capex and looming share unlock

SpaceX is trading 11.9% down at $113.70 as investors react to massive capital spending plans and the expiration of a major share lockup period.

• Despite a strong Q2 revenue beat and rapid growth in Starlink, a $15.8 billion AI capex forecast is stoking concerns regarding cash burn and future margins.
• Market participants are bracing for Thursday’s expiration of a nearly 1 billion-share lockup, driving profit-taking and fears of potential equity dilution.
• The downward move follows a post-earnings spike, with sentiment shifting toward caution over the company's heavy investment cycle.