SpaceX just dropped its first-ever earnings report as a public company, and it’s already sparking market frenzy — with shares down nearly 30% since going public and now trading 50% below their peak. Investors are hoping the numbers bring some relief, but looming over them is the massive flood of insider shares hitting the market next week, which could triple available supply and crush prices further. While Q2 revenue is projected at $6.87 billion — up from Q1 — they’re still expected to post a loss per share and a big adjusted EBITDA, fueling concerns over spending on Starlink and Starship development. The company’s next big test flight, possibly in late August or September, aims to catch the Starship upper stage with Mechazilla arms — and maybe even launch new Starlink satellites using Starship, even if it’s not fully reusable yet. And don’t forget Elon Musk’s wild card: rumors of a SpaceX-Tesla merger could complicate things, especially with Tesla’s China operations. This earnings report? Just the opening act.
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