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Revenue Up 92%, but Capex and an Aug 6 Lockup Push SPCX Below Its IPO Price

Revenue Up 92%, but Capex and an Aug 6 Lockup Push SPCX Below Its IPO Price

TradingKey – Space Exploration Technologies (SPCX) publicly disclosed its quarterly performance results for the first time as a publicly traded company on August 4, and the key top-line numbers looked encouraging. Revenue more than doubled by 92% from the year prior to $7.8 billion and beat forecasts. SpaceX noted its first round of public equity financing on Tuesday, and shares of the company traded as high as $182 on Tuesday as SpaceX shares traded on the over-the-counter (OTC) market. As of the close of markets on Wednesday, shares of SpaceX were trading at $168 on the OTC market. So why the gap between results and share price? There are two key reasons.

A Strong Quarter on the Top Line

Results from the quarters are encouraging with…

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