Musk offers to drop federal contracts as SpaceX stock rebounds

Community Trust Score Verified 91 % Real Verified 32 votes Updated 7 hours ago SpaceX (SPCX) shares rose about 6% on Friday after Elon Musk offered to cancel any federal contract the government no longer wants, stating that government work represents less than 10% of the company’s revenue this quarter. The move follows a sharp decline in the stock’s value. SpaceX lost 12.5% of its market value in the two trading sessions following the midterm elections, where Democrats won control of Congress.

Source: The Currency Analytics