SpaceX unlocks 911 million shares, doubling public float and nudging Nasdaq weight

More than 900 million SpaceX shares (about 911.5 million) are set to unlock today, more than doubling the publicly tradable float and allowing some employees and early investors to sell. The move comes after SpaceX’s volatile post-IPO period, including a slide after earnings and AI-related capital expenditure concerns, with SPCX trading around $108 and down from its peak and IPO target of $135. The unlock could weigh on the stock in the near term, and it coincides with a potential increase in SpaceX’s weighting in the Nasdaq 100 after the September rebalance; Musk’s Class B shares remain locked for a year after the IPO. This is the first in a slate of lockups expected over the next year, reshaping liquidity and investor dynamics for SpaceX.