SpaceX stock slipped and fell back to its IPO price as another share unlock hit the public float.
Around 319 million shares held by early employees and investors become eligible to trade on Thursday, the Day 70 tranche in a staggered lockup that will release about 88% of ****** eX's 13 billion shares through 2027.
SpaceX shares fell nearly 5% in early trade, dropping below its $135 IPO price.
The stock withstood a big unlock earlier this month. On Aug. 6, up to 911.5 million shares became tradable. The stock absorbed it and rose 6%, a massively bullish move.
The larger supply tests are still coming, with a 1.3 billion-share tranche set to unlock around ****** eX's third quarter earnings in early November, followed by the 180-day expiry in December. CEO Elon Musk's 6.42 billion shares stay locked until June 2027.
#billion
Around 319 million shares held by early employees and investors become eligible to trade on Thursday, the Day 70 tranche in a staggered lockup that will release about 88% of ****** eX's 13 billion shares through 2027.
SpaceX shares fell nearly 5% in early trade, dropping below its $135 IPO price.
The stock withstood a big unlock earlier this month. On Aug. 6, up to 911.5 million shares became tradable. The stock absorbed it and rose 6%, a massively bullish move.
The larger supply tests are still coming, with a 1.3 billion-share tranche set to unlock around ****** eX's third quarter earnings in early November, followed by the 180-day expiry in December. CEO Elon Musk's 6.42 billion shares stay locked until June 2027.
#billion
1 month ago
