SpaceX shares declined 2.6% to $139.65 on Wednesday as investors anticipated the expiration of a major lock-up period for company insiders and early backers.
A tranche of roughly 319 million shares is set to become freely tradable on August 20, expanding SpaceX’s public float and increasing supply pressure on the stock. The expiration follows a prior unlock on August 6, which contributed to a new post-IPO low for the company’s shares.
The pending unlock represents the second in a series of scheduled post-IPO lock-up expirations. Analysts note that the release of large share volumes into the open market typically weighs on prices, with additional expirations expected in the coming months likely to maintain downward pressure.
In a separate development, AI coding startup Cognition AI denied reports that it was engaged in acquisition talks with SpaceX. The denial did not address broader market speculation surrounding SpaceX’s valuation or strategic plans.
