SpaceX's IPO Lockup Starts Expiring in August. Here's Why the Next Wave of Sellers Could Be the Real Test.
The rocket maker's slide has come with almost no insider supply hitting the market. That changes within weeks.
Overview
SpaceX (NASDAQ: SPCX) can't seem to catch a break. On Thursday, the company aborted the second launch attempt of its upgraded Starship rocket moments after ignition, hours after the stock had slid 3% to about $131 -- an all-time low for its brief public life, and below the $135 price at which it went public in June, in an initial public offering (IPO) that raised $85.7 billion.
But a scrubbed launch is a passing headline. The heavier weight on the stock is a calendar item. SpaceX's IPO lockup releases begin in August, and the biggest early tranche could put more shares on the market than the IPO itself did.
Details
Here's how the supply wave works, and what it means for anyone eyeing the beaten-down stock.
Source
Originally published at www.fool.com.