Lockup News & Analysis
2 articles
Market Mood
Space Exploration Technologies (SPCX) IPO Raises $85.7 Billion
Space Exploration Technologies Corp. (NASDAQ: SPCX) went public on June 12, selling 638.9 million shares at $135, raising $85.7 billion. CEO Elon Musk agreed to a 366-day lock-up on his shares, which prevents him from selling until June 12, 2027. However, nearly 6 billion additional shares will be released for sale in staggered lock-up phases over the next year, starting with 912 million shares already unlocked on August 6. This significant share availability may impact the market dynamics for SpaceX investors and potential buyers.
Read More: Space Exploration Technologies (SPCX) IPO Raises $85.7 Billion
SpaceX (SPCX) Stock Rises 23% to $185 After IPO Trading Days
Space Exploration Technologies (NASDAQ: SPCX) shares rose to $185, a 23% increase from the IPO opening price of $150. The company is experiencing volatility as lockup periods for early investors will stagger release shares over the coming months, potentially leading to price declines of 1% to 3%. Specifically, 20% to 30% of shares will become available before the first earnings report, with additional shares unlocking later. Investors should anticipate fluctuations in SPCX stock as supply increases could impact demand.
Read More: SpaceX (SPCX) Stock Rises 23% to $185 After IPO Trading Days