SpaceX investors brace for $101B stock unlock on Thursday

Imagine buying a house in a neighborhood where 143% more houses are suddenly listed for sale overnight. That’s roughly the situation facing SpaceX shareholders this Thursday, when 911.5 million shares worth an estimated $101B to $123B become tradable for the first time. It’s the largest single-day stock unlock in US public listing history. And it’s landing at a moment when the company’s shares are already under pressure following a pre-market slide of up to 11% after its first-ever earnings report. What’s actually happening SpaceX went public on June 12, 2026, pricing shares at $135 each. The IPO was structured conservatively, with only 5% of total shares floated initially. The company released its first quarterly earnings on August 4, which triggered the first phase of a staggered lock-up expiration. Starting August 6, employees, early investors, and venture capitalists can sell 20% of their eligible shares into the open market. Those 911.5 million shares represent roughly a 143% increase in the tradable float — the number of shares available for trading on public exchanges is about to more than double in a single day. The earnings backdrop makes it worse SpaceX’s Q2 earnings repo...