Anyone who expected the 2026 second-quarter earnings report from Space Exploration Technologies (SPCX +15.83%) on Aug. 4 to boost the stock price didn’t get it. In after-hours trading following the report and earnings call, SpaceX’s stock price was down more than 8%.

We’ll quickly look at why the earnings weren’t enough to immediately send the stock price higher, as well as why $63 could be an important price level for investors to watch.

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Why the quarter didn’t move the needle

SpaceX reported $7.8 billion in revenue for the second quarter, a 92% jump from the prior-year period. Revenue for its artificial intelligence (AI) division tripled to $2.6 billion, and revenue from SpaceX’s satellite internet…