Shares of U.S. space exploration company SpaceX (SPCX) fell nearly 3% on Wednesday, having already dropped nearly 30% from its initial public offering (IPO) price of $150 last month and about 50% from its all-time high. The decline comes as the company approaches its second-quarter earnings report (August 4) and a stock vesting event (August 6), the latter of which will release up to 20% of the shares. Previously, SpaceX’s “Starship” spacecraft successfully deployed Starlink V3 satellites and performed a soft landing during its first test flight following the June IPO. CEO Musk stated that the company plans to attempt tower recovery of the “Starship” upper stage during its next flight in late August or September. Additionally, SpaceX is gradually shifting its focus to “Starship” and reducing its reliance on the “Falcon 9” rocket.