SpaceX Slips Below $135 IPO Price as 319 Million Shares Unlock

3 articles · Updated · Yahoo Finance · Aug 20

SpaceX fell nearly 5% in early trading, dropping back below its $135 IPO price after 319 million employee and investor shares became eligible to trade Thursday.
That release is the day-70 tranche in a staggered lockup that will free about 88% of SpaceX's 13 billion shares through 2027, increasing supply pressure on the stock.
The market had absorbed a bigger Aug. 6 unlock of 911.5 million shares, with the stock rising 6%, but larger tests still loom with a 1.3 billion-share tranche due around early-November earnings and a 180-day expiry in December.
Elon Musk's 6.42 billion shares remain locked until June 2027, while separate takeover chatter around AI startup Cognition was denied by both Cognition CEO Scott Wu and Musk.
Wall Street remains constructive after SpaceX's $60 billion Cursor acquisition, with Deutsche Bank raising its full-year EPS estimate 11% and keeping a $235 price target.