SpaceX stock could face further pressure as first batch of shares unlock since IPO
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- SpaceX faces near-term selling pressure as ~911 million shares (about 7% of shares outstanding) unlock Thursday, exceeding the 639 million sold in the record IPO
- SpaceX stock closed Wednesday at $108.27, over 50% off its mid-June peak above $225, after first earnings report revealed capital expenditures more than twice its revenue
- Greg Martin of Rainmaker Securities told CNBC the lockup lifting may affect the stock's near-term path more than fundamentals or strategy
- Mizuho analysts cautioned that shares becoming eligible for sale doesn't mean the full tranche will be offered into the market
- Jessie Bates III, Atlanta Falcons safety, plans to sell all his SpaceX shares purchased in 2022 at a $127 billion valuation — now potentially worth $1.5 million+ at $1.43 trillion
- SpaceX faces additional float: roughly 319 million shares could unlock Aug. 20, plus about 700 million each in September and October, while Elon Musk's 6 billion-plus shares stay locked until June 2027
Why it matters: Roughly 911 million SpaceX shares — nearly 7% of the float — become sellable Thursday after a six-month IPO lockup, testing demand for a stock that's shed more than half its value since mid-June. This is the first of four staggered waves through October; Musk's 6 billion-plus shares remain locked until June 2027.
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