SpaceX shares fall 1.3% as lockup expiry stokes insider selling fears

Published Aug 6, 01:41 PM UTC

SpaceX shares fell 1.3% to $106.45 on Thursday as investors braced for a potential wave of insider stock sales following an unusual lockup expiry. The company had an arrangement allowing up to 20% of restricted shares to be sold starting the second trading day after its Q2 earnings release. Analysts expressed concern that the new supply of shares could exacerbate pressure on the stock, which has experienced volatility since its IPO. While insiders are not required to sell, market analysts noted that employees and early investors may seek to secure profits or invest elsewhere, and the increased share availability is likely to keep volatility elevated.