SpaceX lockup expiry set to test investor demand as shares face further sell pressure

Around 912 million SpaceX shares held by employees and pre‑IPO investors will become eligible for sale as the company’s staggered lockup expires. The shares have already fallen about 49 % from their June peak, and after the company reported a 92 % jump in second‑quarter revenue, the stock slipped another 7.5 % in after‑hours trading. CEO Bret Johnsen told investors the firm is on track for $100 billion of annualized revenue by year‑end. Analysts warn that heavy selling could add fresh pressure on the stock. “This has to be the most talked‑about lockup in the history of IPO lockups,” said Robert Hackel, CEO of R.F. Lafferty & Co. Matt Kennedy of Renaissance Capital added that insiders “are sitting on such massive gains that they’ll have a very strong incentive to realize a return and diversify their holdings.” Brian Mulberry of Zacks Investment Management noted the sell‑off appears sentiment‑driven, with many insiders likely to trim positions now that the shares are fully vested.