SpaceX faces its first lockup expiration on Thursday as 911 million shares, representing about 7% of shares outstanding, become available for trading, adding downward pressure on a stock already down more than 50% from its mid-June high. The stock peaked at $225 in early June before falling to $108.27 on Wednesday, following first earnings that showed capital expenditures more than twice as high as revenue. Additional unlocks are ahead: 319 million shares on Aug. 20, roughly 700 million in September and a similar amount in October. SpaceX’s market cap currently stands at $1.43 trillion, compared to $1.25 trillion when it merged with xAI in February.
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