SpaceX Leads Crowded Earnings Week

Elon Musk fans have never had so many opportunities to hear from the man. On Tuesday, his newly public SpaceX will deliver its first earnings report, and we all expect Musk will be on the earnings call, in what would be his second call this earnings season following Tesla’s a couple of weeks earlier. (For a more expansive rundown of what will be a crowded earnings week, see below).

Two days after SpaceX’s earnings report comes out, on Thursday, SpaceX’s first lockup restrictions on early shareholder selling expire. That will bring hundreds of millions of extra shares onto the market, dramatically expanding the float. Lockup expirations typically put downward pressure on a stock in the weeks before they occur, and SpaceX has been no different: Its stock has fallen steadily in recent weeks. SpaceX closed Friday at $108.37, 49% lower than its post-IPO peak and 20% below its IPO price.