TradingKey – SpaceX faces selling pressure from a second wave of lockup expirations, blocking its rally toward $150 and increasing the risk of a decline toward the $100 psychological level.

On August 19 ET, SpaceX (SPCX) shares came under pressure, slipping 0.44% in pre-market trading to trade at $142.69. Yesterday, a spike in U.S. Treasury yields triggered a collective pullback in U.S. tech and high-valuation sectors. As market risk aversion escalated, SPCX, as a high-beta newly listed stock, took the brunt of liquidity withdrawals, sending its share price down nearly 2%.

Recently, SpaceX shares attempted to rally toward $150 twice, both times pulling back after peaking. Now, SpaceX faces a second wave of selling pressure from lockup…