Space Exploration Technologies Corp. Class A Common StockSPCX
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Impact on stocks 1
Space Economy
Space Exploration Technologies Corp. Class A Common StockSpace Exploration Technologies Corp. Class A Common StockFormer Nasdaq Chairman and CEO Robert Greifeld said the dominant factor for SpaceX stock is the $800 billion in locked-up shares that will become available for sale between now and the end of October. Greifeld noted that early investors sitting on 10x or 11x returns will be relatively price-insensitive and primarily seeking liquidity after waiting over a decade. He acknowledged that Nasdaq-100 inclusion in early July will trigger some index fund buying, but described that demand as muted compared to the potential selling pressure. Greifeld also disclosed that he personally flipped SpaceX shares on debut day, calling the stock a speculative bet at 100 times revenue that does not meet fundamental criteria. SpaceX shares closed at $153.23 on June 26, down 32% from their all-time high of $225.64 reached on June 16.