SpaceX shares fell 4.11% to $148.36 as investors weighed a proposed $51.96 million stock sale by President and COO Gwynne Shotwell, a Sept. 24 lockup expiration that could make up to 328.4 million shares eligible for sale, and rising Treasury yields. Shotwell disclosed the proposed sale of 342,170 Class A common shares after exercising stock options under a Rule 10b5-1 trading plan established June 23. The potential supply increase follows SpaceX’s $75 billion initial public offering on June 12, although the lockup expiration does not require holders to sell. Higher borrowing costs and discount rates are adding pressure to capital-intensive businesses as SpaceX funds Starlink satellite replacements, launch infrastructure, orbital AI data centers and Starship facilities. Shares remain above the company’s $135 IPO price, with investors also focused on Starlink, launch operations, potential artificial-intelligence infrastructure and a Starship test flight scheduled for September 28. Weakness also spread across the sector, with AST SpaceMobile, Rocket Lab and space-focused exchange-traded funds declining during the session.