Why SpaceX stock has rebounded after its lockup expiry, adding $500B in value
Wall Street entered August expecting one of the biggest tests yet for newly listed SpaceX. The market had been bracing for Aug. 6, when the first post-IPO lockup expired, and hundreds of millions of shares held by early investors became eligible for sale. Such events often trigger heavy selling pressure as insiders cash out, particularly after blockbuster listings. Instead, the opposite happened. SpaceX SPCX shares have rallied 35% in the five trading sessions since the lockup expired, adding roughly $500 billion in market value and climbing back above their $135 initial public offering price, Bloomberg reported. Rather than triggering a wave of selling, the expiration appears to have reassured investors that insider supply may not overwhelm demand...
Wall Street entered August expecting one of the biggest tests yet for newly listed SpaceX. The market had been bracing for Aug. 6, when the first post-IPO lockup expired, and hundreds of millions of shares held by early investors became eligible for sale. Such events often trigger heavy selling pressure as insiders cash out, particularly after blockbuster listings. Instead, the opposite happened. SpaceX SPCX shares have rallied 35% in the five trading sessions since the lockup expired, adding roughly $500 billion in market value and climbing back above their $135 initial public offering price, Bloomberg reported. Rather than triggering a wave of selling, the expiration appears to have reassured investors that insider supply may not overwhelm demand...