SpaceX has lost more than $1.2 trillion in market value since its June peak of $225.64, according to CNBC, a drop roughly equal to the market value of Tesla, another company led by Elon Musk. On Monday, the stock fell for the 13th time in 16 trading sessions and closed at $113.50, down more than 1%. In the options market, retail traders are still buying large volumes of call options that are viewed as highly unlikely to finish in the money, betting on a sharp rebound in the shares. The company is set to release its first earnings report next week. Starting Aug. 6, about 911.5 million insider shares, or roughly 20% of the total share count, will begin coming off lockup. Traders said the expiry may not be as damaging as some investors fear, but they also do not expect it to provide support for the stock.
SpaceX has lost more than $1.2 trillion in market value since its June peak of $225.64, according to CNBC. The drop is nearly equal to the market value of Tesla, another company owned by founder Elon Musk.
On Monday, SpaceX fell for the 13th time in its last 16 trading sessions, closing at $113.50, down more than 1%.
Options activity and upcoming catalysts
In the options market, retail investors are still buying large amounts of call options that are seen as highly unlikely to be exercised, in a bet on a fast rebound in the stock. SpaceX is scheduled to publish its first earnings report next week.
Beginning Aug. 6, roughly 911.5 million insider shares will start to come out of lockup, representing about 20% of total shares outstanding. Traders said the lockup expiration may not be as severe as the market fears, but they also do not see it offering support to the share price.
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