Bearish Call Looms for SpaceX Ahead of Earnings and Lock-Up Expiry
SpaceX faces a fresh bear case as elevated short interest and a looming lock-up expiry converge ahead of quarterly results; Phillip Securities analyst Glenn Thum initiates coverage with a Sell rating and $75 target, arguing AI revenue may not justify the valuation despite Starlink driving profits, with investors watching Starlink growth, AI compute contracts, and Starship progress to gauge risk and potential upside.