SpaceX (SPCX) insiders and early investors will be able to sell their stock for the first time on Thursday, when 911.5 million shares become eligible to trade — around 43% more than the 638.9 million shares the company floated in its June initial public offering.
The unlock will more than double ******* eX's public float, lifting the freely tradable portion of the company to 11.8% of shares outstanding from 4.9%.
The unlock arrives at a precarious moment, with the stock trading below its IPO price after a sharp post-earnings sell-off.
But ******* eX stock pulled higher in midday trade after plumbing new lows, bucking the conventional thinking that extra share supply would depress the price.
When a company goes public, employees and pre-IPO investors typically agree to a lockup — a contractual window, usually 180 days, during which they cannot sell.
#SpaceX
The unlock will more than double ******* eX's public float, lifting the freely tradable portion of the company to 11.8% of shares outstanding from 4.9%.
The unlock arrives at a precarious moment, with the stock trading below its IPO price after a sharp post-earnings sell-off.
But ******* eX stock pulled higher in midday trade after plumbing new lows, bucking the conventional thinking that extra share supply would depress the price.
When a company goes public, employees and pre-IPO investors typically agree to a lockup — a contractual window, usually 180 days, during which they cannot sell.
#SpaceX
3 months ago
