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Why Shares Rise Against Trend Amid $100 Billion Unlock as Recovery May Continue

Why Shares Rise Against Trend Amid $100 Billion Unlock as Recovery May Continue

TradingKey – On August 6, Eastern Time, SpaceX ( SPCX) saw its largest post-IPO insider cash-out window open today. However, SPCX shares, after falling over 2% at the open, at one point reversed to rise over 6%. The stock hit an intraday low of $105.11, avoiding a touch of its all-time low of $104.83.

Morgan Stanley analyst Adam Jonas pointed out in a client note on Wednesday that this lock-up expiration involves approximately $100 billion worth of SpaceX shares, characterizing it as an entry opportunity to buy this “potential multi-generational compounding asset.”

However, as SpaceX’s stock price has now fallen below its IPO price of $135, another block of up to 455.8 million shares will remain locked up due to the triggering of price…

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