SpaceX (SPCX) Stock Falls as 319 Million Stocks Unlock Thursday

TLDR

• SpaceX stock fell over 1% in pre-market Thursday as 319 million more stocks unlock for trading
• This follows a larger 911 million share unlock on August 6, which actually saw the stock rise 6%
• SpaceX stock shows almost no correlation with the Magnificent Seven, trading more like a broad market risk proxy
• Analysts remain bullish, with an average price target of $232.35, implying over 66% upside
• By December, around 40% of SpaceX’s total stock could be freely tradable

SpaceX (SPCX) stock slipped over 1% in pre-market trading Thursday, hitting $137.60, as another 319 million stocks become eligible for trading.

Space Exploration Technologies Corp., SPCX

This latest unlock gives early investors and employees the option to sell, potentially adding more supply to the market. It comes just two weeks after a larger unlock of around 911 million stocks on August 6.

That earlier unlock did not trigger a wave of selling. Instead, SPCX stock rose more than 6% that day, a reminder that an unlock does not automatically mean investors will rush to exit.

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