SpaceX COO Gwynne Shotwell sells $52.5 million in stock

SpaceX President and COO Gwynne Shotwell sold 342,170 shares of SPCX at an average price of $153.57, raising approximately $52.5 million. Following the transaction, Shotwell retains nearly 6.5 million shares, valued at roughly $956 million based on recent closing prices.

The sale occurs amid significant market attention regarding SpaceX stock unlocks. A major lock-up expiration began on September 24, with further large-scale unlocks scheduled for October 9 and October 24, involving up to 328.4 million shares each time.

While investors have expressed concerns regarding potential insider selling and liquidity, recent activity shows some high-net-worth individuals have been purchasing equity since the IPO. Despite recent price volatility, SpaceX maintains a market capitalization exceeding $2 trillion.