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SpaceX stock down for week following share unlock, big rocket news from China
Yahoo Finance • • business
Key Points:
- SpaceX stock fell over 2% for the week, closing below its $135 IPO price amid a new share unlock of 319 million shares and increased public float concerns.
- Earlier in August, a larger unlock of 911.5 million shares was absorbed positively, with the stock rising 6%, but bigger unlocks totaling 1.3 billion shares are expected around the Q3 earnings in November.
- CEO Elon Musk updated that the first reflight of Starship is likely by the end of this year or early next, with a planned catch of the ship by the tower delayed from August to a few months later.
- Chinese startup LandSpace achieved a milestone by successfully landing the first stage of its Zhuque-3 rocket on land, marking the first orbital-class booster recovery by a Chinese company and narrowing the reusable rocket technology gap with SpaceX.
- Despite LandSpace's progress, SpaceX remains the leader with over 600 booster landings since 2015, though reusable rocketry is no longer exclusive to SpaceX.
