SpaceX shares jump 35% after lockup expiration, adding $500B valuation
SpaceX just saw its shares rocket up 35% in just five sessions after a big lockup expired on August 6.
That move added about $500 billion to the company's market value and pushed the stock above its IPO price of $135.
Investors were worried early shareholders might dump their stock, but the strong performance calmed those nerves.
SpaceX released 911.5 million shares, earnings beat
The lockup expiration released 911.5 million shares, more than SpaceX sold at its IPO in June.
Even with fears this could tank the price, SpaceX's solid earnings (beating revenue expectations and posting a smaller loss) reassured investors.
Elon Musk says annual run rate could top $100 billion by the end of 2026, aiming for $1 trillion in revenue by 2030 or possibly 2029.
Another lockup is coming August 20, but after this week's rally, people are feeling optimistic about what's next.