Here's When Elon Musk Can Sell His Billions of SpaceX Shares
Yahoo Finance ·
Space Exploration Technologies ( SPCX 1.02% ) , or SpaceX as most know the company, recently became the largest IPO in history. But investors may not realize just how little of the company is currently trading on the market. SpaceX sold 555.6 million shares to public investors, which sounds like a lot, but it's not. That's only about 4% of the total company. Major investors, employees, and insiders own the rest. That includes CEO Elon Musk, who owns approximately 42% of the company through a combination of more than 4.8 billion shares and stock options. However, Musk is bound to an extended lockup provision that prevents him from selling any of his shares until June of next year, or 366 days after the IPO. Here's a look at how these provisions might affect SpaceX stock between now and then. Musk and his companies have an enormous following, especially among individual investors. SpaceX tried to account for this when it planned out its lockup periods. Lockups prevent insiders and major investors from dumping shares on the market once a company goes public. Typical lockups expire after 180 days, but SpaceX has staggered its lockups to minimize volatility in its share price.
DYAX Investor Sentiment
Bullish (Long) 65% · Bearish (Short) 35%
436 participants
Related News
- North American Construction subsidiary secures record $135M Canadian oil sands contract
- DeepSeek makes pivot that should put Silicon Valley on high alert
- Prologis urges SEGRO board to engage on merger proposal
- TotalEnergies divests 170 MW European distributed solar portfolio to Amarenco and AMPYR
- Billionaire Steve Cohen Sold Amazon and Nvidia but Loaded Up on This Beaten-Down Stock
- SpaceX Lost $4.28 Billion on $4.7 Billion in Revenue Last Quarter. Here's What's Going On.