Elon Musk's SpaceX to unlock $116B shares August 6
SpaceX, led by Elon Musk, is about to make a huge move, unlocking $116 billion worth of shares for sale starting August 6.
This is one of the largest share releases ever, with 911.5 million previously restricted shares becoming eligible for sale on August 6, two days after the quarterly results on August 4.
SpaceX tradable shares reach 5.33 billion
The unlock will roll out through early December, boosting tradable shares from 639 million to a massive 5.33 billion by early December.
Early investors are eyeing big paydays, while short sellers (who've already made $7 billion) are hoping falling prices work in their favor.
Shares are still down 37% from their June peak.
SpaceX is doing things differently too: instead of a typical IPO lockup, it's staggering the release, and Musk himself can't sell any stock until mid-2027.