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SpaceX announced Wednesday that it has secured $1.6 billion in launch orders from the U.S. Space Force. The company will conduct 18 Falcon 9 missions by the end of 2027, carrying military satellites designed to detect and track airborne targets.The launches were awarded through two task orders under the Space Force’s core launch procurement program. SpaceX, United Launch Alliance, Blue Origin and other selected U.S. providers will compete for additional military launch contracts under the program.

Tesla Plunges Nearly 18% in Worst Week Since 2022

2026-07-24 Read:2167

Tesla shares closed at $313.03 on Friday, July 24, bringing the stock’s weekly decline to nearly 18%—its worst weekly performance since 2022.

The sell-off followed Tesla’s second-quarter results released Wednesday, when earnings fell short of Wall Street expectations. Although revenue increased, heavy spending on future projects—including robotaxis, the Optimus humanoid robot and a large-scale chip manufacturing facility—pushed quarterly capital expenditures to approximately $5.79 billion. Free cash flow turned negative at $1.09 billion.

Argus Research analysts said in a Friday report that the elevated spending could continue to pressure Tesla’s free cash flow, delay earnings growth and provide little near-term benefit to shareholders. The firm currently maintains a “Hold” rating on the stock.

Tesla shares have fallen approximately 30% this year, making the company one of the worst-performing major U.S. technology stocks.