The lockup period for early investors in Space Exploration Technologies Corp. (SPCX) expires today, freeing roughly 900 million shares for sale. Some early backers could realize gains of up to 20 times their original investment. The stock is currently flat and down 18% from its June 12 IPO price of $135 per share, trading around $108. The expiration follows a pre-market session that was flat overall, with weekly jobless claims coming in at 199,000, below the 204,000 estimate and marking the first time the four-week average has stayed below 200,000 since before the pandemic.
Space Exploration Technologies Corp. Class A Common StockLockup expiration frees 900M shares for sale, increasing supply and pressuring the stock.
