SpaceX stock drops 5% as second post-IPO share lockup expires

SpaceX stock fell about 5% on Thursday after a lockup period ended, releasing shares equivalent to roughly 7% of the company’s total outstanding stock for trading. It was the second group of shares freed from post-IPO restrictions and extended the stock’s losing streak to three sessions. SpaceX shares initially climbed from the $135 IPO offering price to more than $225 before reaching an all-time low of $108.27 less than two months later. The stock has since recovered to a range of $130 to $140.

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