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SpaceX stock rises as 900M insider shares are unlocked
SpaceX stock rose slightly Thursday as lockup expirations made over 900 million shares newly available to trade. Representing some $100 billion in market value, the unlocked shares have doubled the number previously available, as SpaceX employees and early investors enter the market looking to lock in gains. The company's phased, nine-stage lockup structure aims to soften potential selling waves, but adds complexity for investors who are still holding on to SpaceX shares, which now sit below the $135 IPO price and have plunged since June.
SpaceX shares posted modest gains on Thursday even as one of the largest insider lockup expirations in recent market history officially took effect. More than 900 million previously restricted shares became eligible for trading, dramatically increasing the...
