SpaceX Stock Rises About 50% Amid Multiple Insider Share Unlocks
Since early August, nearly 2.3 billion shares of SpaceX (SPCX) have become eligible for trading after being released from lockup restrictions. This follows the company's June IPO where it sold 639 million shares. Despite some volatility on release days, the stock has risen about 50% since Aug. 5 compared to its closing price before a significant post-IPO drop. The largest share unlock of this year is still pending and will occur after SpaceX reports third-quarter earnings in October or early December. This upcoming batch could add up to 1.3 billion shares, making it larger than the first release in August. The stock's performance has improved relative to its IPO price, which may influence holders' willingness to sell. Market analysts suggest that while some supply risk remains, not all eligible shares have been sold immediately after each unlock date. However, with more shares becoming available for trading by early December and CEO Elon Musk’s shares locked until 2027, the market will continue monitoring potential impacts on stock price.
Tickers: $SPCX
Topics: employee shares IPO share price movement stock market