Space Exploration Technologies Corp. (NASDAQ: SPCX) stock fell more than 6% on August 5, despite delivering a blowout debut quarter, as SpaceX shareholders expect to unlock over $100 billion worth of shares on August 6, 2026.
A total of 911,500,000 SpaceX shares, held by early investors and employees, will become tradable on Thursday, as stipulated in its Initial Public Offering (IPO) prospectus filed with the United States Securities and Exchange Commission (SEC). With SpaceX stock trading at about $114.39 at press time, tomorrow’s unlock is valued at approximately $104.266 billion.
SpaceX has13.1818 billion in total common shares outstanding, with 638,888,888 shares, or 4.85% of the total, sold during the IPO. After the first major share unlock, SPCX’s outstanding shares will increase by 6.91% to 1,550,388,888 shares, or roughly 11.76%.
SpaceX shares’ structure
SpaceX will not unlock the additional 455.8 million shares that were to be released alongside the 911.5 million batch. Moreover, SPCX stock did not trade at least 30% above its $135 IPO price, for at least five of the ten consecutive trading days ending on and including the first earnings release date.
As a result, the next share unlock for this company will be 1.3 billion shares after the second earnings, scheduled for late October or early November 2026.
SPCX stock outlook
After a relief rally catalyzed by the record debut quarterly earnings, SPCX stock dropped 6.04% over the past 24 hours, trading at $114.39 at the time of reporting. Consequently, the company had a market capitalization of $1.7 trillion.
The sharp uptick in SPCX’s outstanding shares could drive further bearish sentiment in the near term.
