SpaceX sets earnings date, triggering first lock-up expiration for millions of shares - CNBC

What the report says

CNBC reported that SpaceX shares rose 3% on Tuesday after the company scheduled Aug. 4 for its first earnings report as a public company, a move that also starts the first major release of locked-up shares following its June IPO. The gain interrupted a seven-session slide for the stock, according to CNBC, after a sharp pullback from highs reached shortly after the listing.

The report said SpaceX’s lock-up structure is staggered rather than the more common 180-day restriction. Under the arrangement described by CNBC, investors may sell 20% of eligible locked-up holdings — as many as 911.5 million shares — on Aug. 6, the second full trading day after the earnings date. A further 10% could become available if the shares close at least 30% above the IPO price for five of the 10 trading days before the report.

CNBC also noted that short sellers have increased bets against the company while the publicly tradable float remains limited. Elon Musk criticized those maintaining large short positions in a post on X. Forbes’ real-time billionaires index, cited by CNBC, put Musk’s net worth at about $786 billion on Monday, down from above $1 trillion around the IPO date.

Beyond the stock move, CNBC said investors are watching SpaceX launch activity. The company planned a Falcon 9 mission carrying Starlink satellites after a scrubbed attempt, and it was preparing a Starship launch after an engine ignition problem halted a prior mission. CNBC framed Starship as central to SpaceX’s Starlink expansion plans and NASA Artemis-related obligations.