The Hindu·4 min read·medium
SpaceX selloff an ominous sign as lockup expiry looms
R
Reuters
✦AI Summary
SpaceX shares have fallen below their IPO price amid concerns over upcoming lockup expirations that could increase the supply of tradable shares. Despite the decline, the company maintains a massive market valuation driven by its Starlink service and government contracts.
The dip in SpaceX’s shares below its blockbuster IPO price of $135 a share is an ominous sign for Elon Musk’s internet and rocket company as it faces more potential volatility in early August, when the number of shares available for trading on the Nasdaq stands to increase significantly.
businesseconomytechnology
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