Wall Street Worried SpaceX Shares Would 'Crash' Friday. They're up 21% Ever Since.
Trading volume topped 255 million on Aug. 6 as investors weighed whether insiders would sell 911.5 million available shares.
- On Monday, SpaceX stock reclaimed its $135 IPO price, closing 4% higher at $138.74 despite the August 6 expiration of a 911.5 million share lockup that many feared would trigger a massive sell-off.
- Investors had braced for volatility as the lockup expiration threatened to flood the market with insider shares. Shay Baloor, chief market strategist at Futurum Equities, stated the event was "nowhere near as damaging as everyone had positioned for."
- Morningstar analyst Nicolas Owens noted that not all 911.5 million available shares were immediately sold, telling Business Insider, "With the new float available some index funds were buyers last week because the free-float-adjust their weights."
- On Friday, retail investors sold into the rally to take gains, though Jai Malhi, a senior equities strategist at Vanda Research, said "net selling is not unusual on days where stocks rally."
- Semi Analysis models a path to $300B in annual recurring revenue if SpaceX builds 10GW of compute by 2027, while Morningstar's Owens maintains the stock is "significantly overvalued.
24 Articles
24 Articles
SpaceX passes first lockup expiry test with US$500 billion rally
Since SpaceX went public in June, Wall Street had been dreading Aug. 6, when the first lockup preventing early investors from selling the stock expired and millions of shares were set to flood the market.
Zero Hedge
Nemos News NetworkSpaceX Surges Following First Lockup Expiry After Musk Taunts Shorts
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
(Seoul = Yonhap News) Reporter Joo Jong-guk = As Elon Musk's SpaceX stock, which had been showing weakness since its listing, recently rebounded sharply, short selling (betting on a decline in stock price...) on this stock
SpaceX's shares went up in the pre-market negotiations on Wednesday (12), after a profit-making session. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Is the Worst Really Over? Top Investor Weighs In on SpaceX Stock
SpaceX (NASDAQ:SPCX) stock finally gave investors something worth celebrating after a difficult period following its June IPO. Shares surged 16% on Friday, extending their weekly gain to about 23%, yet the stock remains about 37% below its post-IPO high.Claim 55% Off TipRanks The trouble began after enthusiasm surrounding SpaceX’s blockbuster IPO collided with concerns about its lofty valuation, heavy spending requirements, and, of course, the l…
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