SpaceX Stock Just Rallied 12% in a Single Day. Did Elon Musk Survive the Lockup Expiration Unscathed?
He's not back into the $1 trillion club, but Elon Musk, his wallet, and SpaceX investors lasted through the stock's first lockup expiration.
Overview
There's much work to be done before reclaiming the high of $225.64, but for the week ending Monday, Aug. 10, shares of Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) are higher by 21.1%.
Alone, that's impressive, but the stock's resurgence is all the more noteworthy when considering it coincided with the expiration of the first lockup period. Aug. 6 was the first day since the June initial public offering (IPO) on which 911.5 million shares held by SpaceX insiders, including employees, could ring the register.
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Originally published at www.fool.com.
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