SpaceX (SPCX) Stock Falls 3% as Share Unlock and China Rocket News Hit the Same Day

TLDR

• SPCX fell 2.6% to $139.65 on Wednesday ahead of a 319 million share lock-up expiry on August 20.
• Chinese startup LandSpace successfully landed an orbital-class rocket booster for the first time, narrowing SpaceX’s competitive edge.
• The August 6 unlock of 911.5 million shares was absorbed well, with the stock rising 6%.
• Larger unlocks are still ahead, including a 1.3 billion-share tranche around Q3 earnings in November and a 180-day expiry in December.
• CEO Elon Musk’s 6.42 billion shares remain locked until June 2027.

SpaceX stock dropped 2.6% to $139.65 on Wednesday, pressured by two separate events: a looming share unlock and a milestone from a Chinese rocket competitor.

Space Exploration Technologies Corp., SPCX

The stock had only just clawed back above its $135 IPO price on August 10, the first close above the offering price since mid-July. Wednesday’s drop pulled it back toward that level.

The immediate trigger for the selloff was the upcoming Day 70 lock-up expiry on August 20. Around 319 million shares held by early employees and investors become eligible for sale on that date.

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