Dan Loeb‘s Third Point opened a position in Space Exploration Technologies Corp. (NASDAQ:SPCX) during the second quarter, holding 180,415 Class A shares worth about $31 million as of June 30.
On June 12, 2026, the Elon Musk-led company debuted on the Nasdaq stock exchange. It made history, closing its first day of trading at $160.95 per share — a gain of 19.22% from its $135 IPO price.
SpaceX reported second-quarter revenue of $7.81 billion, beating the Street consensus estimate of $6.93 billion according to data from Benzing Pro. The company reported a loss of 9 cents per share, beating a Street consensus estimate of a loss of 24 cents per share.
The company has revealed the Starlink satellite internet service’s fourth-generation router, promising better connectivity and water-resistant port covers, among other updates.
The Federal Communications Commission is moving to unlock more than 1,000 MHz of additional spectrum for satellite broadband, putting SpaceX’s Starlink in focus months after an April rule change eased limits on low-Earth-orbit satellite networks.
