SpaceX Shares Rise After Unlock

SpaceX stock rose after its IPO lockup expired, freeing more than 900 million shares.

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SpaceX shares passed a key test Thursday. Now sophisticated traders are betting the bottom may be in

I Just Saw the Future in a Phone Call

SpaceX shares rise even as company insiders get chance to sell for the first time

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SpaceX’s post-IPO lockup expired Thursday, making up to 911.5 million insider shares valued at roughly $101 billion available for sale for the first time. The unlock represents about 7% of shares outstanding and more than doubled the public float to as many as 1.55 billion shares, exceeding the 639 million shares sold in the IPO. The stock rose about 6% as the new supply hit the market, while remaining more than 50% below its mid-June high. Early employees and investors can now cash out pre-IPO holdings.

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