August has been more than positive for SpaceX (NASDAQ:SPCX) stock, its shares gaining 30% and climbing back above the initial public offering price (IPO). Now, another potential short-term growth catalyst emerges in the shape of the September 9 SpaceX share unlock, when the free float is set to reach 17.7%.
The debut placed about 639 million shares into public circulation, so the scheduled unlocks are significantly increasing the stock’s tradable supply. While we can’t tell for certain how investors are going to react to the supply changes, new shares entering the market can potentially impact the SpaceX price.
In this context, we asked OpenAI’s chatbot, ChatGPT, to predict SpaceX stock price after the September 9 share unlock.
ChatGPT says SpaceX stock will hit this price by September 9
Analyzing the price, ChatGPT described three scenarios for September 9. In the most likely one, the chatbot sees SpaceX shares trading somewhere between $120 and $145, with the most narrow range between $125 and $135 immediately after the unlock. The narrowest prediction implies a 4.4%-12.8% upside from the current price of $141.
If selling is absorbed, the price might go up to $140-$150. A more bullish range of $145-$170 only has a 25% chance of becoming reality, but it is nonetheless notable that the algorithm argued that such a rally is more likely than a bearish correction to the $100-$120 range. What’s more, it argued that a drop below $100 was only 5% likely to happen.
AI predicts SPCX share price after the next share unlock
Overall, ChatGPT said that the September 9 unlock is expected to make another 319 million SpaceX shares tradable (2.44% of shares outstanding), followed by another 59 million affiliate shares on September 10.
At around $141, the chatbot expects some of the selling pressure to be priced in ahead of September 9. The key downside risk is profit-taking by early shareholders, while strong SpaceX fundamentals could provide support.
Featured image via Shutterstock
