SpaceX (SPCX): 319 Million Shares Unlock, But Stock Falls 7% 

Around 319 million SpaceX (SPCX) shares held by early employees and investors were unlocked on Thursday, becoming eligible to trade. As expected after the share unlock, the price of SPCX stock fell as mch as 7%, with shares dropping back below their IPO price.

Another SPCX stock unlock is set to come tomorrow, with $45,000,000,000 worth of SpaceX $SPCX shares becoming available to trade. After a sluggish first month for the stock on Wall Street, Elon Musk’s SpaceX (SPCX) has seen its stock value climb 16% in the last 30 days. The company’s first earnings report helped spark the recent rally and led to several firms on The Street raising their price forecasts for SPXC stock. However, the stock has failed to continue its recent momentum following the latest stock unlock.

Still, there is strong belief that SpaceX will wind up being one of the top investments not just in space stocks, but on the entire market over the next several years. SpaceX CEO Elon Musk says he believes the space economy will be “much bigger” than $1.8 trillion by 2035. In a response to another user on X Tuesday that suggested a “Second Space Age” is imminent, Musk implied that this one will be much bigger. Following up on that post, Musk also agreed with another user that said the space economy should probably be thought of as an order of magnitude greater (or two) than it currently is. This is in large part because it will be absolutely necessary for the continued scaling of AI compute and power.

The stock withstood a big unlock earlier this month. On Aug. 6, up to 911.5 million shares became tradable. The stock absorbed it and rose 6%, a massively bullish move. Still, the larger supply tests are still coming, with a 1.3 billion-share tranche set to unlock around SpaceX’s third quarter earnings in early November, followed by the 180-day expiry in December