SpaceX begins $101 billion insider share unlock, 1st of 9
SpaceX will make $101 billion worth of insider-held shares tradable this Thursday, kicking off the first of nine phases that will boost available shares from 639 million to 1.55 billion.
After its IPO at $135 per share (valuing the company at $86.2 billion), SpaceX stock has dropped to around $110 following a recent earnings dip.
Short-sellers hold $5.3 billion paper profits
This massive, staggered share unlock is new territory for the market; Baillie Gifford's Peter Singlehurst even called it "uncharted waters."
Short-sellers have already paper profits of $5.3 billion as the stock trades well below its June peak.
While things could get bumpy in the short term, investors are still eyeing SpaceX's big-picture moves like expanding Starlink internet and launching orbital data centers, though increased AI spending and more unlocked shares could keep things unpredictable for a while.