SpaceX SPCX

SpaceX (SPCX) lists on Nasdaq at $135 per share. Only about 4% of the company’s total shares trade publicly on day one. Insiders, employees, and early investors remain under a contractual lockup, meaning their holdings cannot be sold yet. This creates a thin float and can lead to heightened volatility as public demand meets limited supply.

The first material release of insider shares occurs the second trading day after SpaceX reports Q2 2026 earnings. Up to 20% of shares previously subject to lockup become eligible for sale. This is often the first real test of whether insiders choose to hold or distribute stock, and it can shift market sentiment and available float.

If SPCX trades at or above $175.50 — 30% above the $135 IPO price — for at least 5 out of 10 consecutive trading days, an additional 10% of locked shares may be released early. This reward-like mechanism ties insider liquidity to company performance and can accelerate selling pressure if the stock runs sharply higher.

Regardless of stock performance, scheduled tranches unlock at fixed intervals beginning roughly 70 days after IPO and repeating every few weeks through day 135. Each window can release up to 7% of locked shares, creating a predictable but steady increase in available supply through late summer and early fall.

The second trading day after Q3 2026 earnings marks the largest single unlock before full expiry. Up to 28% of remaining locked shares may become freely tradable. This event typically draws significant attention because the volume of newly eligible stock is meaningfully larger than earlier tranches.

By mid-December 2026, all remaining lockup restrictions expire and insiders, employees, and early investors are free to sell their shares without limitation. This is the most closely watched milestone because it removes the final supply overhang and often sets the stage for the stock’s post-lockup trading dynamic.