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Industry
SpaceX shares jump again above IPO price as short interest slides
SpaceX shares rose 11 percent on Aug. 11 to close around $148, about 10 percent above its $135 IPO price. Cryptopolitan said the stock has rebounded about 41 percent from its Aug. 3 low and is up nearly 28 percent over the past week. S3 Partners estimates short interest fell to about 11 percent from 34 percent last week. Norges Bank Investment Management disclosed a roughly 0.05 percent stake worth just over $1.2 billion.
Industry
SpaceX puts IPO funds into AI infrastructure and safe assets, not bitcoin
SpaceX has allocated funds raised after its IPO to AI infrastructure and short-term safe assets rather than increasing its bitcoin holdings, a report said. The company boosted money market funds and government securities while keeping bitcoin holdings at 18,712 BTC. It spent $15.83 billion on AI infrastructure in the second quarter. Concerns persist over rising AI spending and potential share sales by insiders, alongside elevated short interest and derivatives activity.
Industry
SpaceX loses over $500 billion in market value a month after IPO ahead of first earnings
SpaceX is set to report its first earnings since its IPO after losing more than $500 billion in market value in about a month. Shares have fallen for four straight weeks since trading began on June 12 and are down more than 50 percent from an intraday peak. The company reports after the close on Aug. 5. Lockup expirations, short selling, Starship progress and an AI push are among factors in focus.
