SpaceX stock drifts to fresh closing low as earnings loom

SpaceX's stock closed at a fresh weekly low ahead of its second-quarter earnings due Aug. 4, after a volatile week that left SPCX down about 5.8% and roughly 30% from its debut. A lockup expiration on Aug. 6 could free as much as 20% of shares, potentially adding selling pressure. Analysts note SpaceX's heavy capital needs and rising debt—projected to climb well beyond $200 billion by 2028—raising questions about returns, while merger chatter with Tesla and potential China data concerns add to the uncertainty.