Cashing in on SpaceX: 'Every chance I get, I'll sell a little more'

Andre Lavoie, a SpaceX engineer since 2009, designed the pressure tanks that power its rockets. Having received 200,000 shares through stock as part of his hiring incentive, Lavoie now expects to start selling his shares as they have increased in value to about $23 million. He plans to use the money to fund a hotel renovation in Italy and a brewery.

Founded by Elon Musk, SpaceX went public in June in the largest IPO ever, with shares valued at over $2 trillion. The firm's first six months generated $2 billion in losses, but revenue nearly doubled to $7.8 billion. Despite the losses, SpaceX's Starlink satellite internet service is reportedly profitable. Musk believes it could eventually provide the majority of the world's internet. However, SpaceX's shares fell 13.6% the day after the earnings report.

Lavoie, interviewed by Musk, remains supportive of the company, stating that he has always been impressed and happy working there. Some analysts worry about SpaceX's ties to Elon Musk's AI venture, xAI, warning that the high valuations could be overdone. However, aerospace analyst Ron Epstein believes SpaceX's recent share price volatility reflects broader market trends rather than the company's fundamental performance.

SpaceX has significantly reduced the cost of reaching orbit, lowering it to around $2,000 per kilogram with its Falcon 9 rocket.