IN 16 DAYS, $116B OF SPACEX STOCK BECOMES SELLABLE FOR THE FIRST TIME On August 6, restrictions lift on as many as 911.5 million insider shares, per Bloomberg, two days after the company's first earnings report. And that is only the opening wave. The schedule: - Tradeable shares today: around 639 million - August 6: up to 911.5M insider shares unlock - Early December: float hits 5.33 billion, per the IPO prospectus - Musk, holding roughly 60%, stays locked up just past the one-year mark The bears are already positioned: - About 30% of the current float is sold short, per S3 Partners - Those bets are up roughly $7B on paper - Stock sits 37% below its June 16 closing high, near $119.85, after a seven-session slide erased $425B One wrinkle: an extra 455.8 million shares unlock right after earnings if the stock holds $175.50 in five of the ten days through the report. That is 46% above Monday's close, out of reach unless the tape turns violently. Early backers win either way: the company was valued near $400B a year ago, before the xAI deal pushed it to $1T.
