SpaceX Shares Drop 4.2% as Day 120 Lockup Releases $51 Billion in Stock

SpaceX shares fell 4.2% to $160.57 on October 9 as its Day 120 post-IPO insider lockup expired, releasing roughly 319 million shares valued at nearly $51 billion onto the market. The unlock follows an approximately 2.5% decline on October 8 amid investor anticipation of the supply influx. SpaceX debuted on June 12, raising $85.7 billion at a $1.77 trillion valuation with an initial public float under 5%. The company adopted an unconventional staggered unlock framework, featuring share releases across days 70, 90, 105, and 120, with further expirations scheduled on calendar days 135 and 180.