SpaceX Below Its IPO Price as 911M Shares Unlock | Trade It With Capital.com
A record unlock lands on a falling stock
SpaceX's IPO lock-up expired on Thursday, 6 August 2026, freeing roughly 911.5 million shares held by early shareholders and employees to trade for the first time — a stake worth close to $99 billion at the day's price. The freely tradable float stood below 280 million shares before today, so the pool of sellable stock could multiply several times over in a single session. A further 455.8 million shares remain eligible to unlock later under separate conditions, though Elon Musk's stake and a small group of senior insiders stay locked until mid-2027 — what's unlocking today is early-investor and employee stock, not the founder's position.
The stock is down, but the results weren't the problem
Shares trade around $108, roughly 52% below the post-IPO peak of $225.64 and about 20% under the $135 IPO price. That drop isn't a reaction to weak numbers: quarterly revenue rose 92% to $7.8 billion, and all three reporting segments beat estimates. The market's concern is spending, not sales — capital expenditure hit $18.37 billion for the quarter, with roughly $15.83 billion of that directed at AI infrastructure. The contrast with the same trading day is telling: Shopify jumped nearly 20% for turning a profit, while SpaceX fell on strong revenue because of how much it's spending to get there.
The math for anyone holding shares
The asymmetry matters for position sizing. An investor who bought at the $225.64 peak needs the stock to roughly double — a 108% rally — just to break even. Someone who bought at the $135 IPO price needs a smaller, but still substantial, 25% recovery. With hundreds of millions of newly tradable shares entering the market on top of an already sharp drawdown, near-term volatility looks more likely to widen than narrow.
Frequently asked questions
What is the SpaceX share price today?
SPCX traded near $108.27 on Thursday 6 August 2026, within a daily range of $106.66 to $117.50. Its 52-week range runs from $104.83 to $225.64.
What is an IPO lock-up expiry?
A contractual period, usually 90 to 180 days after listing, during which founders, employees and early investors are barred from selling shares. When it ends, potential supply rises.
Does a stock always fall when the lock-up expires?
No. Downward pressure is common but not a rule. Markets often price the event in advance through short selling, so the stock can rebound if actual selling comes in lighter than expected.
Why did the stock fall despite 92% revenue growth?
Because of $18.37 billion of capital expenditure in one quarter, 2.4 times revenue, with $15.83 billion on AI infrastructure. Investors are concerned about continued cash burn.
Has Elon Musk sold his shares?
He cannot at present. Shares held by Musk and a select group of senior insiders remain locked until mid-2027 under the terms of the offering.
Is this a good time to buy?
Nobody can answer that for you, and anyone offering a firm answer is claiming knowledge they do not have. The available facts: the stock is 20% below its IPO price, revenue is growing 92%, but the company is loss-making and faces a large new supply of shares today. The decision rests on your time horizon and position size, not the price alone.
How can I trade SpaceX stock?
Through a regulated broker offering CFDs on US shares. CFDs give no ownership of the stock and no voting rights, and Capital.com discloses that 79.75% of retail accounts lose money trading them.
Track SpaceX and other newly listed stocks as CFDs with Capital.com.