SpaceX faces pressure from 900 million shares

More than 900 million shares of SpaceX, which were previously restricted from trading, have now entered the market today. This could lead to an increase in the total shares available and exert downward pressure on the stock price, which had fallen about 14% in the previous session to a record low of $108.27. This move will allow employees and early investors to sell their shares for the first time, potentially causing further declines, especially since the company conducted the largest initial public offering in history but offered less than 5% of its shares. The sales and increased free float are expected to impact the company's weight in the Nasdaq 100 index, potentially raising it from over 1% to more than 3.5% after September's rebalancing, despite the stock trading about 50% below its previous high. It is worth noting that the company is following a gradual unlock schedule for its shares instead of the traditional lock-up period. Major shareholdings remain concentrated among giants like Elon Musk, while forecasts suggest that the increased available shares could exert short-term pressure on the stock price. However, the company's fundamentals remain strong, and it’s possible the stock could stabilize in the long term.

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