SpaceX stock slides 5% for week following share unlock, big rocket news from China

Key Points:

• SpaceX shares fell over 5% this week, dropping below their $135 IPO price following a new share unlock of approximately 319 million shares, part of a staggered release expected to continue through 2027.
• Earlier in August, SpaceX absorbed a larger share unlock of up to 911.5 million shares, which coincided with a 6% stock rise, but more significant unlocks remain, including 1.3 billion shares around Q3 earnings and further releases by year-end.
• CEO Elon Musk updated on Starship development, indicating a likely successful "catch" of the rocket with the tower in a few months, with the first reflight expected by the end of this year or early next year, a delay from the initial August target.
• Chinese startup LandSpace achieved a major milestone by 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 rocketry gap with SpaceX.
• Despite LandSpace's progress, SpaceX maintains a strong lead with over 600 booster landings since 2015, though reusable rocketry is no longer an achievement unique to SpaceX alone.