SpaceX shares face potential selling pressure as a massive 328.4 million share lockup expiration hits the market on September 24, following a trend of increased supply for the aerospace giant.
Lockup expiration on Sept. 24 unlocks up to 328.4 million shares, potentially causing selling pressure.
Space Exploration Technologies (SPCX) faces a significant test as 328.4 million shares become eligible for sale on September 24. This lockup expiration is the first in a series of upcoming tranches, potentially creating short-term volatility for the $2.05 trillion market cap company.
A lockup expiration allows company insiders and early investors to sell their shares on the public market, which can increase supply and potentially exert downward pressure on the stock price.