SpaceX Shares Jump 21.1% After 911.5 Million-Share Lockup Expires
Updated
Updated · The Motley Fool · Aug 10
SpaceX Shares Jump 21.1% After 911.5 Million-Share Lockup Expires
3 articles · Updated · The Motley Fool · Aug 10
Summary
$135 was recaptured on Aug. 10, when SpaceX closed above its IPO price for the first time in nearly a month despite the first insider selling window opening Aug. 6.
911.5 million insider-held shares became eligible for sale after the June IPO, yet the stock still rallied for the week even as some employees likely took profits.
28% of the float is due to unlock on the second full trading day after third-quarter results, likely in late October or early November, with all employee selling restrictions ending in mid-December.
Five earlier time-based tranches of about 7% each also begin Aug. 21, with two more in September and two in October, setting up repeated supply tests before earnings.
The rebound follows a post-IPO slump that kept shares from meeting a trigger for an additional 10% float release, underscoring how lockup mechanics may drive SpaceX's fourth-quarter trading.