SPCX
The rocket’s still flying — but the float story is getting ugly
SpaceX shares are already wobbling below their IPO price, and Peter Schiff is basically holding up a giant neon sign that says: more selling pressure could be coming. His latest worry isn’t the launch pad — it’s the lockup schedule, which could let insiders start selling chunks of stock and expand the tradable float way faster than bulls would like.
Why the market is sweating
According to the article, insiders can start unloading up to 20% of their holdings on the second full trading day after SpaceX reports Q2 results, which analysts expect in early August. Then there’s a separate unlock tied to the stock’s price action, plus the standard 180-day lockup expected to expire around mid-December.
That matters because the stock has already slid nearly 44% from its high. If you’re an investor, that’s the kind of setup where the story can flip from “scarcity premium” to “wait, how many shares can actually trade now?” Not exactly the kind of question you want hovering over a hot IPO.
The bigger headache: supply meets sentiment
Schiff isn’t alone here. George Noble and Gary Black are also warning that the lockup schedule may be a bigger near-term risk than valuation itself. In plain English: even if people still love the business, a sudden surge in supply can be a buzzkill for the stock.
And just to keep the mood lively, SpaceX also aborted a Starship test flight late Thursday after some engines didn’t start. So yes, the company had a rough day on both the trading floor and the launch pad. Big picture: when a stock is already under pressure, any fresh supply overhang can feel like adding gravity to a rocket already pointing the wrong way.