Spacex Shares Surge as 900 Million Unlock for Insider Sales

WHO:

ABC News - Elon Musk is the CEO of SpaceX.

CNN - Ryan Lee is the senior vice president for product and strategy at Direxion.

CNN - Justus Parmar is the founder and CEO at Fortuna Investments and a SpaceX investor.

WHAT:

ABC News - SpaceX reported a massive increase in spending on R&D and infrastructure, particularly involving artificial intelligence and other major projects.

Bloomberg Markets - The release of up to 911.5 million shares from lock-up agreements is valued at about $100 billion.

CNN - SpaceX's stock has tumbled down roughly 50% from its record high on June 16, and is currently trading at even less than its initial $135 offering price.

ABC News - Morgan Stanley analyst Adam Jonas stated that the stock could rise to $300 by the middle of next year, nearly tripling its current level.

CNN - SpaceX's stock has tumbled roughly 50% from its record high on June 16 and is down 20% from the IPO target price of $135 a share.

CNN - After the unlocking of shares, SpaceX's weight in the Nasdaq 100 could rise above 3.5% after the index rebalances in September, according to TD Securities.

ABC News - SpaceX shares rose 2.5% to $110.92.

ABC News - More than 900 million shares became newly available for trading, doubling the previously available amount.

ABC News - SpaceX reported a loss of $541 million, or 9 cents per share, in the three months through June.

ABC News - SpaceX's revenue jumped to $7.8 billion, up more than 90% from the year-earlier period.

CNN - The stock (SPCX) closed at $108.27 a share after a nearly 14% drop.

CNN - SpaceX had the biggest IPO in history on June 12.

CNN - The stock has tumbled roughly 50% from its record high on June 16 and is down 20% from the IPO target price of $135 a share.

CNN - SpaceX has 7.571 billion Class A shares and almost 6 billion Class B shares.

WHERE:

ABC News - The trading occurred in New York.

CNN - SpaceX is part of the Nasdaq 100 index.

WHEN:

CNN - The scheduled unlocking of up to 911.5 million shares occurred on a Thursday.

CNN - The Nasdaq 100 will rebalance in September.

WHY:

ABC News - Investors were nervous due to big capital spending figures in technology companies.

CNN - The lockup expiry allows employees and early investors to sell their shares, potentially driving the share price down.

HOW:

CNN - SpaceX has a staggered, tiered calendar for unlocking its shares for public trading, which is less common than a typical 180-day lockup period.

CNN - In 2027, extended lockup periods for company executives will begin to expire, with Musk's shares locked up until one year after the IPO.

CNN - SpaceX is following a staggered, tiered calendar for unlocking its shares for public trading, rather than a typical 180-day lockup period.

(UPDATED August 7, 2026 05:34 UTC)

SpaceX has reported a significant increase in spending on research and development, particularly focusing on artificial intelligence and other major projects. In a related development, the company is set to release up to 911.5 million shares from lock-up agreements, valued at about $100 billion, although its stock has plummeted roughly 50% from its record high on June 16 and is now trading below its initial offering price of $135. This staggered approach to unlocking shares for public trading is less common than the typical 180-day lockup period.

(UPDATED August 7, 2026 03:54 UTC)

SpaceX's stock has seen a significant decline, dropping roughly 50% from its record high on June 16 and currently down 20% from its IPO target price of $135 a share. Despite this downturn, Morgan Stanley analyst Adam Jonas predicts that the stock could rise to $300 by the middle of next year, nearly tripling its current level. Additionally, after the unlocking of shares, SpaceX's weight in the Nasdaq 100 could increase above 3.5% following the index's rebalancing in September.

(UPDATED August 7, 2026 00:57 UTC)

SpaceX shares rose 2.5% to $110.92, despite the company reporting a loss of $541 million for the three months through June, while its revenue jumped to $7.8 billion, up more than 90% from the previous year. The trading took place in New York, where more than 900 million shares became newly available, doubling the previously available amount, and the Nasdaq 100 will rebalance in September. Investors are feeling nervous due to significant capital spending figures in technology companies, and the recent unlocking of shares has allowed employees and early investors to sell, which could further impact the share price.