SpaceX Prepares for Second Earnings Report Amid Chip Deal Rumors
SpaceX will release its second-ever earnings report Tuesday following reports of a potential $40 billion debt deal to purchase Nvidia chips.
Space Exploration Technologies Corp. is scheduled to release its second-ever earnings report after the market closes on Tuesday. Options traders anticipate a price swing of approximately 6%, a decrease in implied volatility compared to the 13% drop following the company's first report in August. Trading volume has trended bullish, with 665,000 call contracts traded on Monday.
The company enters the reporting period following the successful delivery of four astronauts to the International Space Station. Market attention is also focused on reports that the aerospace firm is seeking a $40 billion debt deal to purchase chips from Nvidia Inc.
Additional pressure on the stock stems from two upcoming share lockup expirations. One occurs two days after the earnings report and another on October 26, which will make more than 1.6 billion shares eligible for sale. Meanwhile, CEO Elon Musk has announced plans to provide shares to every child in America next year.
