SpaceX stock rebounds 3.6% to $117.63 after $1.2 trillion loss
SpaceX stock made a comeback on Tuesday after one of the biggest post-IPO crashes ever, which erased over $1.2 trillion in value since mid-June.
The drop was fueled by worries about high prices and heavy spending on AI, but shares bounced back 3.6% to $117.63 after falling earlier in the session.
Lock-up expirations could increase volatility
A lot of eyes are on upcoming lock-up expirations: basically, millions more SpaceX shares could hit the market by August 6, making things even more unpredictable.
Short sellers (those betting against the stock) have already scored nearly $8 billion as shares stay 40% below their June peak.
With even more lock-up expirations coming through December, the number of shares available to trade will swell to over five billion, so expect some wild swings ahead for SpaceX's price tag.