Big Tech is about to run a two-day gauntlet featuring some of the market’s heaviest hitters. Netflix and SpaceX report after the closing bell today. Meta and Tesla follow on Wednesday. All four are, in their own ways, expensive growth stories, and their earnings arrive at a difficult moment for markets. The AI trade has
SpaceX stock isn’t just falling. It’s hitting every branch on the way down. After surging to a $2.6 trillion valuation on its third day of public trading, SpaceX stock has tumbled 46%, wiping out more than $1.2 trillion of that in the process. The initial wave of selling came as investors balked at lofty valuations.
SpaceX delivered its first earnings report since going public in June, arriving at a sensitive time for the stock, which has tumbled 15% from the $135 offering price. SpaceX shares dropped 7% after hours following the earnings, which revealed better than expected revenue but AI capex higher than Wall Street estimates. While overall capex came
