TradingKey – With internal negative factors fully priced in, selling pressure on SpaceX shares has been substantially released, and the stock is poised for a short-term rebound.
On August 7, Eastern Time, SpaceX ( SPCX) continued its strong rebound, rising 2.5% today to trade at $117.79. Yesterday, SpaceX saw its first post-IPO lock-up expiration. Despite initial market concerns over a sudden surge in share supply, the stock rallied over 6% that day, defending the critical $100 level.
SpaceX stock price chart, Source: TradingView
More notably, the 911 million shares released in SpaceX’s first lock-up expiration account for about 7% of its total shares outstanding, valued at nearly $100 billion. With single-day trading volume exceeding 250…
