- SpaceX shares have fallen for seven consecutive trading days.
- Shares fell to $119,79 on Monday amid expectations of Tesla's earnings release.
SpaceX shares fell to $119,79 after seven straight sessions of declines. That's 11% below its IPO price of $135 and nearly 47% below its peak of $225, according to Yahoo Finance.
Source: Yahoo Finance
SpaceX's share price decline comes amid anticipation of Tesla's financial results, scheduled for July 22. Analysts forecast quarterly revenue of $27,58 billion, with net profit of approximately $1,28 billion. According to the electric vehicle manufacturer, 451,758 vehicles were produced in the second quarter, with 480,126 delivered.
Investors are also awaiting confirmation of rumors of a Tesla-SpaceX merger, which JPMorgan analyst Ryan Brinkman said looks "strategically logical on paper" due to the connections between artificial intelligence, robotics, energy, transportation, and space.
The bank also noted that Elon Musk leads both companies, and their engineering resources and long-term technology plans could facilitate operational collaboration. However, the deal is still viewed as a potential strategic move, not a confirmed negotiation.
Previously edited Happy Coin News Reported about the problems with the Starship rocket launch, which lowered the price of SpaceX shares and reduced state Elon Musk.
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