According to BlockBeats, citing BIT (bit.com) market data on Aug. 7, SpaceX shares advanced more than 6% to $114.92, lifting the company's total market capitalization back above $1.5 trillion. The rise came even as SpaceX faced an unlock of up to 911.5 million shares, which took effect Thursday. That amount equals more than 140% of the current public float, and the report said it has increased the risk of near-term price volatility. The move also lifted other space-related stocks: Redwire (RDW) gained 10.35%, Rocket Lab (RKLB) rose 1.14%, and Virgin Galactic (SPCE) added 1.38%. Looking ahead, more than 4 billion shares are expected to become tradable by the end of this year, which may create sustained selling pressure for SpaceX stock. The company's long-term fundamentals remain the main focus for the market, even as the unlock supply looms. The potential overhang could weigh on shares over time, according to the report.
SpaceX shares climbed more than 6% to $114.92 on Aug. 7, according to BIT (bit.com) market data cited by BlockBeats, lifting the company's total market capitalization back above $1.5 trillion. The move came despite a massive unlock of up to 911.5 million shares on Thursday, a volume equal to more than 140% of the current publicly circulating float. The event has amplified near-term volatility in the stock.
Space-related names followed the rebound. Redwire (RDW) jumped 10.35%, Rocket Lab (RKLB) gained 1.14%, and Virgin Galactic (SPCE) added 1.38%.
Looking ahead, more than 4 billion shares are expected to enter the tradable pool by the end of this year. That overhang could weigh on the share price for a prolonged period, although market attention remains on the company's long-term fundamentals.
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