SpaceX IPO Lockup Expiration in August Could Trigger Major Share Supply Wave
SpaceX (NASDAQ: SPCX) shares hit an all-time low of ~$131, below its $135 IPO price, following a failed Starship launch and ongoing lockup expiration concerns. The IPO lockup period begins expiring in August, with the first tranche of up to 911.5 million shares (worth over $115 billion) becoming sellable after the company's first earnings report as a public entity. This single tranche exceeds the entire IPO size. Additional tranches unlock through late October, with the standard lockup ending in early December. Elon Musk's shares remain locked until June 2027. The stock has fallen 42% from its post-IPO peak of $225.64. While SpaceX's Starlink segment is profitable ($4.4B operating income in 2025), its AI segment lost $6.4B in 2025 and $2.5B in Q1 2026 alone. The company's $1.7 trillion market cap trades at nearly 90x trailing revenue, raising valuation concerns amid potential selling pressure.
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