Elon Musk taunted SpaceX's short sellers on Tuesday with the post 'I try to warn them, but they just double down,' and the shares jumped 9.4% to $125.33 (£93) by the close. Hours later, the rocket and satellite company's first results as a listed business cleared Wall Street's revenue forecast, showing $7.81B (£5.8B) against the $6.93B (£5.2B) that analysts polled by the data firm LSEG expected.
The celebration lasted about as long as the closing bell. Capital spending of $18.4B (£13.7B) for the quarter, some $5B above forecasts, sent the stock down as much as 8% in extended trading before it clawed back part of the fall.
