SpaceX stock holds above IPO price after two insider share unlocks

  • SpaceX shares stayed above the IPO price after two insider share unlocks.
  • 911.5 million shares became eligible August 6, followed by roughly 319 million August 20.
  • Roughly 700 million more shares are due in September before later scheduled releases.

Space Exploration Technologies Corp. (NASDAQ:SPCX), known as SpaceX, has remained above its $135 IPO price after two insider share unlocks since its June 12 debut. Shares closed at $153.47 on Tuesday, about 32% below their $225.64 intraday peak, despite 911.5 million shares becoming eligible on August 6 and roughly 319 million more on August 20. A larger tranche of roughly 700 million shares is due in September, followed by releases on September 24, October 9 and October 24 before the 180-day lockup expires on December 8. Elon Musk's stake remains locked until June 2027, while Wall Street price targets include $280 from Oppenheimer and $240 from JPMorgan.

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