SpaceX Sets August 4 Earnings Date, Triggering 911.5M Share Lock-Up Expiration

According to CNBC, SpaceX announced on Monday its debut earnings report for August 4, triggering a lock-up expiration allowing insiders to sell 911.5 million shares—representing 20% of their eligible locked-up stock. The aerospace company took a staggered approach to prevent massive selling and price volatility. An additional 10% could be freed up if SpaceX shares close at least 30% above the IPO price for five of the ten trading days before the report.

SpaceX shares gained 5% on Tuesday but have declined 53% from their June 16 intraday high of $225.64. The stock has become a target for short sellers, with bearish positioning reaching about one-third of the public float.