More than 900 million SpaceX shares unlock today. Here’s what to know

Key Points:

• Over 900 million SpaceX shares will unlock on Thursday, more than doubling the publicly available stock and potentially putting downward pressure on the share price, which recently hit an all-time low.
• The stock has declined nearly 50% from its record high shortly after its historic June 12 IPO, with Wednesday seeing a 14% drop amid concerns over increased AI-related capital expenditures and the upcoming lockup expiry.
• SpaceX’s staggered lockup schedule means this Thursday’s unlock is the first of several, potentially adding over 5 billion Class A shares to the market by the end of the year, while Musk’s Class B shares remain locked until 2027.
• The increased share availability could significantly raise SpaceX’s weighting in the Nasdaq 100 index from about 1% to over 3.5% after the September rebalancing, impacting the index’s performance.
• Despite short-term volatility from share unlocks, investors emphasize the importance of SpaceX’s long-term business strength and Elon Musk’s execution of the company’s vision.