Home Business & Finance SpaceX’s $101 Billion Unlock Heaps Pressure on Battered Shares
Business & Finance

SpaceX’s $101 Billion Unlock Heaps Pressure on Battered Shares

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SpaceX’s $101 Billion Unlock Heaps Pressure on Battered Shares Investors hanging onto SpaceX shares after a plunge below their IPO price are bracing for the next potential hit, when $101 billion worth of stock becomes available for trading on Thursday. The scheduled ending of a lockup agreement restricting insider share sales until a specified period after an initial public offering is nothing new. But given the staggered nine-stage structure — designed in an effort to dilute the impact of...

SpaceX’s $101 Billion Unlock Heaps Pressure on Battered Shares Investors hanging onto SpaceX shares after a plunge below their IPO price are bracing for the next potential hit, when $101 billion worth of stock becomes available for trading on Thursday. The scheduled ending of a lockup agreement restricting insider share sales until a specified period after an initial public offering is nothing new. But given the staggered nine-stage structure — designed in an effort to dilute the impact of the vast amount of shares locked up — and the sheer size of the first stage, even SpaceX’s veteran backers aren’t keen on making predictions.
SpaceX (ORG) IPO (ORG)
Originally published by Bloomberg Technology Read original →