SpaceX (NASDAQ:SPCX) stock is up 4% so far in September, trading at $147.95 at press time, on September 7. With new SpaceX share unlocks now on the horizon, however, the price could potentially experience some volatility in the coming weeks.
Initially, about 639 million SPCX shares went into circulation following the June 12 initial public offering price (IPO), so the upcoming unlocks are set to significantly increase the stock’s tradable supply in a rather short period of time.
Notably, the September 24 unlock will raise the tradable float to about 20.1%. To see how the price might move as a result, we asked OpenAI’s chatbot, ChatGPT, to predict SpaceX stock price after the September 24 share unlock.
ChatGPT says SpaceX stock will hit this price by September 24
The chatbot’s prediction for SpaceX stock after the September 24 share unlock was bearish. Specifically, it argued that SPCX shares would likely trade in the $140-$155 dollar range shortly after the event, with the single best estimate being around $145 dollars. This is roughly 2% below the last close at $147.95.
However, the algorithm left some room for a more bullish scenario. Namely, in case of strong demand, the stock could climb to somewhere between $155 and $170 dollars, while an exceptionally bullish outcome could take it to $175-$190, or higher.
SPCX share price will not crash after the next share unlock, AI says
It is noteworthy that the machine learning algorithm punctuated the analysis by claiming that a major crash following the share unlock is not very likely, as not all shares are necessarily sold immediately.
Furthermore, last month’s large unlocks likewise had no such effect on the prices, and investor enthusiasm around SpaceX’s artificial intelligence (AI), satellite, and computing businesses could provide substantial demand to offset any pressure.
Accordingly, if SpaceX is above $155-$160 dollars going into September 24, the chatbot expects the unlock to cause only a modest pullback, potentially toward $145-$150.
Featured image via Shutterstock
