SpaceX Rises After $100 Billion Share Unlock as Feared Selling Fails to Emerge
Updated
Updated · 24/7 Wall St. · Aug 6
SpaceX Rises After $100 Billion Share Unlock as Feared Selling Fails to Emerge
3 articles · Updated · 24/7 Wall St. · Aug 6
Summary
$100 billion in newly eligible SpaceX shares hit the market Thursday, yet the stock climbed nearly 3% by late morning after briefly gaining more than 5%.
Wednesday’s almost 15% earnings-day drop had already priced in much of the risk, while insiders were not forced to sell and many may have held because shares remain about 20% below the $135 IPO price.
Retail buyers and ARK Invest added shares during the weakness, and short interest near 35% of float likely amplified the rebound through short covering.
Roughly $800 billion more in SpaceX stock is still scheduled to become eligible by the end of October, leaving a supply overhang despite Thursday’s relief rally.