Close-Up Pieces
SPCX · GOOGL · AMZN+ 11.90%Monday, August 1011 Min Read
Alphabet's $99 Billion Profit Came From Shares It Never Sold
$99 billion of Alphabet's second-quarter net income, and $53.4 billion of Amazon's, came from remarking stakes neither company has sold. Strip the two out and S&P 500 earnings growth falls from 50.4% to 32.0% — and JPMorgan raised its target on Monday looking at the higher figure.
- SPCX · QQQ+ 18.85%
Wednesday, August 513 Min Read
SpaceX's Locked 911.5 Million Shares Freed by Its First Earnings
Fifty-five days after the largest IPO in market history, the first tranche of SpaceX's locked stock comes free: 911.5 million shares, roughly two and a half times what currently trades. The trigger was not a date but the company's first earnings report.
- SPCX− 7.45%
Friday, June 129 Min Read
SpaceX, the Largest IPO Ever, Fell Below Its Offer Price in Seven Weeks
It opened at $135 on June 12, touched $225.64 four days later, and traded under the offer price by the end of July. The distance between those numbers says less about a company than about how a newly listed stock gets priced.