Space Exploration Technologies (SPCX +9.65%) is bouncing back. After dropping to as low as $104 per share, the stock has climbed back above its IPO price of $135, and shares are currently trading at $145 apiece. Some may regret not investing in the rocket company while they still had the chance, but has SpaceX really bottomed out? Let’s find out.

Why SpaceX is rebounding

SpaceX’s first lockup expiration date was Aug. 6. This refers to a set period after an IPO during which a company’s insiders aren’t allowed to sell their shares. Once the period expires, they are free to sell. Many investors believed that once SpaceX’s insiders were legally allowed to sell their shares, they would do so in large quantities, putting downward pressure on…