SpaceX stock faces pressure as 911.5 million shares unlock after record IPO

More than 900 million SpaceX shares are set to become available for trading on Thursday. Up to 911.5 million shares will be unlocked, allowing some employees and early investors to sell shares they received or bought before SpaceX went public. The share unlock could put more pressure on SpaceX stock. The company’s stock has already fallen sharply, and the arrival of hundreds of millions of additional shares could increase the supply available to investors and push the price lower.

SpaceX stock had a major fall on Wednesday. Shares of SpaceX, trading under the ticker SPCX, dropped almost 14% on Wednesday and closed at $108.27. It was the stock’s second-worst trading day on record.