Business & Finance
SpaceX’s $101 Billion Unlock Heaps Pressure on Battered Shares
Key Points
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.