SpaceX Stock Rises After 900 Million Shares Unlock
More than 900 million SpaceX shares unlocked Thursday, more than doubling the publicly available stock. The unlock came after the company reported strong Q2 revenue growth of 92 percent year-over-year to 7.8 billion dollars, but also revealed significant capital spending on artificial intelligence of 15.8 billion dollars that concerned investors. The stock had fallen nearly 14 percent on Wednesday ahead of the unlock, but rose 6 percent on Thursday as the expected selling pressure did not fully materialize. Elon Musk, who controls 82 percent of voting shares, remains locked out until June 2027. Analysts note that much of the negative sentiment may have already been priced into Wednesday's decline, and that retail investors bought the dip along with ARK Invest, helping offset insider sales. Additional share unlocks are scheduled through December.
Key facts
- More than 911.5 million SpaceX shares unlocked on Thursday, doubling the public float from 639 million to 1.55 billion shares
- SpaceX reported Q2 2026 revenue of 7.8 billion dollars, up 92 percent year-over-year, beating analyst estimates of 6.93 billion dollars
- Capital expenditures jumped to 18.37 billion dollars in Q2, with 15.83 billion dollars in AI spending, exceeding analyst estimates of 13.22 billion dollars
- Stock price rose 6 percent on Thursday to 114.92 dollars, despite falling 14 percent on Wednesday to 108.27 dollars
- The company has a staggered nine-stage lockup release schedule through December, with Elon Musk's stake remaining locked until June 2027
- SpaceX had the largest IPO in history on June 12, 2026 at 135 dollars per share, but stock is now trading below that IPO price
How different outlets framed it
Left-leaning coverage: Left-leaning outlets highlight governance concerns, with institutional investors calling Musk's unprecedented control over SpaceX—holding 82 percent of voting power while serving as CEO, CTO, and chairman—as governance risks. Progressive critics connect this to broader wealth inequality concerns and note the company's aggressive AI spending while maintaining net losses.
Right-leaning coverage: Right-leaning outlets emphasize the unlock as evidence of Musk's success and validation of the company's growth trajectory. Some frame the unlock positively as employees and early backers gaining liquidity rewards for their risk-taking. Coverage often highlights Musk's defense of capital spending as necessary for reaching trillion-dollar revenue targets faster.
Limits of this briefing
Most mainstream sources analyzed are centrist or business-focused outlets. Limited explicit left-leaning progressive critique specific to this lockup event was found in major news outlets; much criticism exists in investor governance forums and secondary sources. Right-leaning analysis of this specific event was also limited, though Breitbart provided some coverage.
Sources
- CNN Business: SpaceX rises 6% after more than 900 million shares are unlocked Centre
- Yahoo Finance: More than 900 million SpaceX shares unlock today. Here's what to know Centre
- The Motley Fool: SpaceX's 911.5 Million Share Unlock Hits Tomorrow. What Investors Need to Know. Centre
- Fortune: Jefferies analyst calls out 'simple-minded' criticism of SpaceX's governance Centre
- Breitbart: Lockup Period Ends for Elon Musk's SpaceX, Releasing More Shares than IPO Right