SpaceX Dodges 456 Million—Share Supply Shock Ahead Of First-Ever Earnings

SpaceX Corp. (NASDAQ: SPCX ) heads into its first quarterly earnings report since going public with investors focused on revenue, guidance and the company’s AI ambitions. But one potential source of selling pressure has largely faded. A little-known provision in SpaceX’s IPO lock-up agreement could have released an additional 456 million shares as early as Aug. 7 if the stock met a specific performance target ahead of earnings. With shares trading below the required level, that incremental unlock now appears unlikely. The $175.50 Threshold Is Out of Reach Under SpaceX’s IPO prospectus, an additional 10% of eligible non-affiliate shares — roughly 456 million shares — could become available for sale two trading days after the company’s first earnings release if certain conditions are met. The key requirement: SpaceX shares needed to close at or above $175.50, or 30% above the $135 IPO p...