Here's the Precise Timeline of When SpaceX Insiders Can Dump Their Shares on Retail Investors
A rapidly approaching accelerated lockup period will allow SpaceX insiders to cash out at the expense of retail investors.
Overview
Three weeks ago, Elon Musk's artificial intelligence (AI) and space infrastructure goliath, Space Exploration Technologies (SpaceX) (NASDAQ: SPCX), etched its name in Wall Street's record books.
Prior to SpaceX, no public company had ever raised more than $29.4 billion from an initial public offering (IPO), including the underwriters' option. SpaceX practically tripled this figure by raising $85.7 billion from its June 12 IPO. It also made SpaceX one of America's largest businesses.
Details
But it'll take a lot more than IPO buzz and history-making moments to convince Wall Street that SpaceX is a stock retail investors should own. Despite several upcoming catalysts, including SpaceX's inclusion in the growth-focused Nasdaq-100, a massive potential fleecing of retail investors awaits, courtesy of the company's accelerated share lockup period.
Source
Originally published at www.fool.com.