Space Exploration Technologies Corp (NASDAQ:SPCX) shares are extending their slide Monday, continuing to trade firmly below the $135 IPO price as investors brace for a wave of supply that could hit the stock in less than two weeks.
SpaceX stock is trending lower.
What's pulling SPCX shares down?
SpaceX Continues To Trade Below IPO Price The stock has faced sustained selling pressure since its initial post-IPO pop, and the primary driver of today's weakness appears to be investor anticipation of share unlocks on Aug. 6.
SpaceX's first share lock-up expiration is set to release up to 911.5 million shares into a public float that currently represents only around 4% to 5% of the company's total share count.
