SpaceX Stock Tumbles 11% Amid Capex Spending Fears

SpaceX's stock price has continued its downward trend, dropping by 11% after investors raised concerns about capital spending and free cash flow pressure. The company reported no Bitcoin sales in the second quarter, but shares began falling before the market opened as investors focused on these key issues.

The looming expiration of an insider lockup period, which restricts the sale of certain stock by company insiders, is also contributing to the decline. This event is expected to put additional pressure on the company's share price in the coming weeks.