SpaceX (SPCX) is trading 3.75% lower during Monday's regular session as a major share lockup expiration brings potential selling pressure to the forefront. The stock last changed hands at $147.71, down from Friday's close of $153.46.
The aerospace and defense company, led by CEO Elon Musk, is experiencing its highest-volume session as 319 million shares become eligible for sale following the lockup period. According to The Motley Fool, up to $47 billion in insider selling pressure could hit the market as a result of today's unlock.
Why SPCX Is Moving Today
The primary catalyst is a scheduled share unlock event that took effect September 9, 2026. Lockup restrictions prevent insiders and early investors from selling shares immediately after a public listing or funding round. When these restrictions expire, a large block of shares becomes available on the open market, which can pressure stock prices if supply outpaces demand.
Benzinga reported the lockup alert early Monday afternoon, noting the significant size of today's unlock. This follows two previous unlock rounds that the stock managed to shake off, but today's 319-million-share expiration represents a substantial portion of the float.
The session volume of over 82 million shares traded through the regular session indicates heightened investor interest and potential rotation as new shares enter the market.
What This Means for Investors
SpaceX's public float sits at approximately 6.09 billion shares, according to SEC filings from July 2026. The short interest of roughly 184 million shares and days-to-cover ratio of 1.20 suggest the market has been anticipating some volatility around unlock events.
Not all unlocked shares necessarily hit the market immediately. Insiders and early investors may choose to hold positions based on their long-term outlook for the company, which designs, manufactures, and launches rockets and spacecraft, and provides broadband services through its Starlink network.
Analyst Context
Despite today's pullback, some analysts remain constructive on SPCX. GuruFocus reported on September 8 that an analyst set a $220 price target on SpaceX, implying approximately 49% upside from current levels. That target hinges significantly on progress toward Starship reuse, which the bull case centers around nearly entirely.
Billionaires including David Tepper and Philippe Laffont were reported to have increased their SpaceX stakes during the second quarter of 2026, suggesting institutional confidence in the company's long-term trajectory.
The stock remains approximately 34% below its 52-week high, according to recent coverage, making today's unlock one of several factors investors are weighing in the near term.
Investors should monitor volume and any further insider selling disclosures to gauge whether today's pressure is a temporary unlock effect or signals deeper sentiment shifts. The next scheduled unlock event appears set for September 24, 2026, per ChatGPT price prediction coverage from earlier this month.