SpaceX Lockup Expiration to Free $101 Billion in Stock

Bloomberg's Leen Al-Rashdan discusses the impending expiration of a SpaceX lockup agreement releasing $101 billion in shares, noting veteran investors are unsure how the market will react. The stock is already under pressure after disappointing earnings and heavy AI spending, dropping 14% yesterday. More shares are set to unlock in a complex multi-stage structure through December, potentially prolonging the overhang. Some see the sell-off as a potential buying opportunity if one believes in ambitious long-term targets, but widespread uncertainty prevails. - $101 billion of SpaceX stock becomes tradable as first part of lockup expires, doubling the available shares. - Even veteran backers are uncertain how the secondary market will absorb the unprecedented event. - SpaceX stock fell 14% yesterday amid pressure from massive AI expenditure and earnings disappointment. - A complex nine-stage lockup structure means 1.55 billion shares today, more than tripling by December. - Investors are holding back, waiting for more analyst calls and clarity on Starship data centers and AI business ambitions. - The sell-off could make shares look attractive to new investors who believe in the Street's price targets.