SpaceX Falls Through Its IPO Price as a Potential $123 Billion Insider Unlock Looms

SpaceX shares traded below the $135 IPO price for the first time, briefly reaching $132.15 before closing at $135.27. The stock is roughly 33% below its post-IPO peak, reducing the company’s market capitalization to about $1.8 trillion. Reuters reports that as many as 911.5 million insider and early-investor shares—currently worth roughly $123 billion—could become eligible for sale after SpaceX’s first earnings report, expected in early August. That potential supply materially exceeds the approximately $86 billion of shares currently in public circulation.