When SpaceX went public in June 2026 at $135 per share, the excitement was hard to overstate. One of the most anticipated IPOs in a generation, a rocket company run by the world’s most recognizable entrepreneur, a story that blended cutting-edge aerospace with Starlink’s internet ambitions. The stock briefly shot past $200. Then came August.
With the first major lockup expiration now in the rearview mirror, SpaceX shares have fallen to within 4% of that original $135 IPO price, touching a recent low of $108.27 before recovering slightly. For anyone who bought at the peak, that’s a round trip from euphoria to something considerably more uncomfortable.
What just happened with the lockup
On August 6, 2026, the first tranche of SpaceX’s staggered lockup schedule expired, making roughly 911.5 million shares eligible for sale on the open market.
To put that in perspective: the company’s publicly traded float before this date was approximately 4.9% of total shares outstanding. After August 6, that figure jumped to around 11.8%. In practical terms, the supply of freely tradable SpaceX stock roughly doubled in a single day.
