<cite index="8-1">SpaceX shares held steady on Thursday as investors digested the release of as many as 911.5 million shares worth about $100 billion from lock-up agreements that had prevented insiders from selling them.</cite> <cite index="5-2">The newly unlocked shares increased SpaceX's public float from roughly 639 million shares to about 1.55 billion.</cite> <cite index="7-3">The unlock arrived on August 6, with 911.5 million shares becoming eligible—around 43% more than the 638.9 million shares the company floated in its June IPO.</cite>
<cite index="2-3">On Aug. 6, 2026, insiders may sell up to the first 20% of eligible shares. SpaceX's lockup period schedule also allowed for an additional 10% of shares to be sold early if its stock traded at least 30% higher than the IPO price during five of 10 consecutive trading days before its first earnings release. However, that didn't happen.</cite> <cite index="5-3">SpaceX shares fell about 13.6% on Wednesday to close at $108.27, extending losses following the company's first earnings report as a public company.</cite> <cite index="9-2">SpaceX reported $7.8 billion in revenue in Q2 2026, roughly 92% year-over-year growth, but the stock sold off as investors focused on higher-than-expected AI-related capital expenditures.</cite>
<cite index="6-2">Despite the top-line beat, shares dropped roughly 7% after the report as investors focused on higher-than-expected AI-related capital expenditures. Combined with a 15% slide into the print, the peak-to-recent draw-down sits near 48%.</cite> <cite index="4-2">The incoming wave of supply has attracted short sellers to pile bearish bets on SpaceX. Data compiled by S3 Partners through Tuesday's close shows that 35% of the float is sold short.</cite>
<cite index="6-4">The 911.5 million share figure is the eligible universe, not a sale forecast. Several factors will dampen realized supply. First, Elon Musk has publicly signalled a long-term hold; his personal stake is by far the largest bloc and unlikely to move on day one. Second, employees typically face brokerage windows, blackout rules and tax-withholding mechanics that stagger sales over weeks.</cite> <cite index="9-1">It's the largest single release in the schedule, but it's not the only one — smaller tranches continue through October, a second large tranche follows Q3 earnings, and the full lockup backstop expires December 8, 2026.</cite>