SpaceX shares rally 6% as 900 million-share lockup expires despite $25 billion cash burn
SpaceX stock rose 6% during a closely watched post-IPO test, even as more than 900 million shares became eligible for sale. Q2 results showed 92% revenue growth, Starlink gains and surging AI sales, but a projected $25 billion cash burn and heavy capital spending continue to weigh on valuation.