SpaceX Lock-Up Expiry Unleashes 911.5M Shares, Doubling Float
SPCX is trading near its 52-week low of $104.83 (4.8% above the low).
Summary
The lock-up period on 911.5 million SpaceX shares expires today, potentially flooding the market with $100 billion in stock and more than doubling the current float. The stock is already under pressure, down 14% yesterday to a closing low of $108.27 after the company disclosed heavy AI spending plans in its earnings report. With shares trading near their 52-week low and 20% below the $135 IPO price, the expanded float could amplify volatility. This follows the IPO in June and a series of high-profile moves including the Anysphere acquisition and Elon Musk's increased holdings.
At the time of this announcement, SPCX was trading at $109.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.4T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.