SpaceX Ditches Wall Street’s Playbook — Elon Musk Will Post Financial Results on X Instead

TLDR

• SpaceX will post quarterly and annual results only on its own website and X, cutting out wire services like Business Wire and PR Newswire
• The company raised a record $75 billion in its IPO, selling 555.56 million shares at $135 each
• Underwriters exercised the greenshoe option, pushing total IPO proceeds to $85.7 billion
• SpaceX shares closed around 19% higher on Monday and were up roughly 2% in after-hours trading
• The move is a departure from how most public companies communicate with investors

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SpaceX will no longer send its financial results through traditional wire distribution services. Going forward, the company will publish quarterly and annual reports, along with other material news, exclusively on its own website and its account on X.

The announcement came in a regulatory filing on Monday. SpaceX said it “encourages members of the investment community, the media, and others to follow” its investor relations page and its X account.

Most public companies use services like Business Wire or PR Newswire to distribute results. These services push information out to news outlets, trading platforms, and investors at the same time. SpaceX is stepping away from that model entirely.

The filing did not give a specific reason for the change. The company framed it as a way to reach investors and the public directly through its own digital channels.

SpaceX IPO Raises a Record $85.7 Billion

The news came on the same day SpaceX confirmed its IPO underwriters exercised the greenshoe option. That is an option that allows underwriters to sell extra shares if demand is strong enough.

The exercise of that option pushed total proceeds from the IPO to $85.7 billion. Before that, SpaceX had already raised $75 billion by selling 555.56 million shares at $135 per share.

That made SpaceX’s IPO the largest in history, even before the greenshoe was counted. The company is led by Elon Musk and operates across rockets, artificial intelligence, and satellite internet.

Shares responded well to both pieces of news. The stock closed around 19% higher on Monday.

Space Exploration Technologies Corp., SPCX

Market Reaction

After the close, shares were up about 2% in extended trading. The combined news of the greenshoe exercise and the new disclosure policy appeared to sustain investor interest through the session.

The decision to use X as a primary channel for investor communications is unusual. X is a social media platform also owned by Elon Musk. Using it as an official disclosure channel puts it on the same level as the company’s own investor relations page.

It is not yet clear how regulators will view the move. Public companies are required to make material information available to all investors at the same time, and the filing suggests SpaceX believes posting to its website and X satisfies that standard.

Investors who want to stay up to date with SpaceX financial news will need to monitor those two channels directly. The company is not planning to distribute results through any other service.

The IPO itself closed recently, making SpaceX one of the newest and most closely watched public companies in the market.

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