Since SpaceX went public in June, Wall Street had been dreading Aug. 6, when the first lockup preventing early investors from selling the stock expired and millions of shares were set to flood the market. They needn't have worried.SpaceX shares have been on a tear since the lockup ended, soaring 35% in just five sessions, adding roughly $500 billion in market capitalisation, and vaulting back over their $135 initial public offering price. The surge bucked concerns about an impending wave of selling and gave investors optimism that future expirations won't be as painful as feared.Read more: Elon Musk discloses 48.4% stake in SpaceX in regulatory filingThis lockup was the biggest one, with 911.5 million shares coming available, more than were sold in the IPO. The next expiration is on Aug 20. Bloomberg
SpaceX shares surge 35% after lockup expiration, defying Wall Street fears
SpaceX shares have surged significantly after a major lockup expiration. Early investors were permitted to sell millions of shares on August sixth. The stock price has climbed thirty-five percent in just five trading sessions. This rise has added approximately five hundred billion dollars in market capitalisation. Investors now feel optimistic about future stock lockup expirations.
TL;DRAI
SpaceX shares surged 35% after 911.5M shares hit market on Aug. 6, defying sell-off fears and adding ~$500B market cap. The surge reflects investor confidence in SpaceX's business, signaling sustainable valuation and lower risk for future lockups.
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