SpaceX (SPCX) stock has fallen approximately 29% over the past month and now trades below its IPO price of $135. On Tuesday, the stock hit a low of $107.01 before recovering to close at $116.41, up 2.56%. Jim Cramer has advised investors to wait, as roughly 911.5 million shares will become eligible for sale on August 6, which is expected to increase supply and further pressure the price. SpaceX will report its first quarterly earnings as a listed company on August 4, and Cramer warned of potential weakness even in the event of strong results due to the lockup expiration the following day.
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