SpaceX (SPCX) shares rose about 5% in trading on Thursday, despite the expiration of the stock lock-up period. 911.5 million securities with a total value of about $ 100 billion were released into free circulation, which lifted previous restrictions on sales for insiders. In the first hour of trading, more than 120 million shares have already changed hands, which indicates a high level of liquidity and interest from the market. This growth was a recovery from a 14% drop the day before. At that time, investors reacted negatively to the company's first profit and loss report, which was caused by exceeding expectations for expenses in the field of artificial intelligence. Nevertheless, Wall Street analysts generally maintained a positive view of the issuer's prospects, ignoring short-term volatility.

The expiration of the restrictions increased the number of shares in free float to 1.55 billion, compared with 639 million at the time of the record IPO in June, when the offering was priced at $135 per share. Many early investors and employees keep paper profits, even though current quotes are below the initial public offering price. The next major lifting of restrictions is scheduled for June 2027, when 6.4 billion Class A shares will be available for trading.

It is noteworthy that short positions on the company's shares reached 36% of the volume of free circulation. According to S3 Partners LLC, sellers have accumulated paper profits in excess of $ 9 billion in the short term, against the background of the recent decline in quotations.

***

The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.