SpaceX stock could face further pressure as first batch of shares unlock since IPO

Elon Musk speaks at Starbase before SpaceX's IPO in in Starbase, Texas, U.S., June 12, 2026. CNBCEarly SpaceX investors will have their first chance to cash out a portion of their holdings on Thursday as initial lockup restrictions expire, potentially putting pressure on a stock that's already more than 50% off its high from mid-June. Just over 911 million SpaceX shares will be available for trading, representing about 7% of shares outstanding. It's more than the 639 million shares that were sold in the company's record IPO. Elon Musk's reusable rocket maker initially saw its stock price shoot up to $150 as it hit the Nasdaq in June before surpassing $225 days later. But it's been a rocky eight weeks since then, with the shares closing on Wednesday at a low of $108.27. The stock plunged after SpaceX said in its first earnings report late Tuesday that capital expenditures were more than twice as high as revenue. Greg Martin, co-founder of Rainmaker Securities, told CNBC in an email that the stock's "near-term path" may be more affected by the lockup lifting than any fundamentals or strategy. And more float is coming. On Aug. 20, another 319 million shares could unlock, according to ...