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Shares of SpaceX, owned by Elon Musk, rose despite the opportunity for shareholders to sell their shares for the first time since the company went public. The amount available for trading increased to over 900 million shares after the lock-up period ended. The stock gained 2.5%, reaching $110.92, after experiencing a sharp decline in recent days and dropping 14%, marking the largest drop in the company's short history as a public company. The end of the lock-up period is expected to enable shareholders to sell their shares, with analysts predicting the stock price could rise to around $300 by mid-next year—about three times the current price, according to Morgan Stanley analysts. Despite quarterly losses of $541 million in the second quarter, the company's revenues increased by 90% to $8.7 billion, with significant spikes in spending on research and development, particularly in artificial intelligence, amid growing concerns over substantial technology investments.
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