SpaceX (SPCX) is set to report its first second-quarter earnings as a public company after the close today, with Wall Street generally expecting Q2 sales of $6.82 billion and a loss of $0.29 per share. The company is expected to highlight large contracts for AI computing capacity with Anthropic and Google. However, the market's real focus is on August 6, when 20% of early-issued shares held by some insiders will become eligible for sale. Given that SpaceX sold less than 5% of its outstanding shares during its IPO, analysts believe that a wave of insider selling could inject a large number of tradable shares into the market, putting downward pressure on the company's stock price. Elon Musk himself will not be able to sell shares until 366 days after the IPO.