Elon Musk Offers to Cancel SpaceX Government Contracts: Can the Stock Live Without Them?

SpaceX (SPCX) shares rose about 6% on Friday despite Elon Musk offering to cancel any federal contract the government no longer wants. He said government work is under 10% of SpaceX revenue this quarter. The bounce repairs only part of the damage. SpaceX lost 12.5% of its market value in the two sessions after Democrats won Congress, leaving June IPO buyers below their $135 entry price. How Much of SpaceX’s Revenue Comes From Washington? Musk was replying to Warren Redlich, who urged him to offer Democrats a list of contracts to cancel. “Moreover government revenue will be less than 10% of SpaceX revenue this quarter and less then 5% a year from now. Happy to cancel any that the government doesn’t want. Just say the word!” Must stated .

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