Shares in SpaceX Corp (NASDAQ:SPCX) are poised to open lower on Tuesday as investors brace for a fresh wave of insider stock hitting the market.
About 319 million shares held by employees and early backers become eligible for sale on 20 August, the latest tranche to escape the lock-up that followed the rocket maker's record June flotation.
The stock was trading down 2.5% ahead of the opening bell in New York.
That marked a reversal from Monday, when the shares climbed almost 6%.
The rally came as a run of regulatory filings showed more than 1,500 institutions had built positions in Elon Musk's space and satellite company, alongside a clutch of bullish analyst notes.
Ownership is unusually concentrated, however, with just 23 investors controlling more than 80% of the reported shares.
Alphabet, the Google parent, is the largest holder at 551.2 million shares, followed by Fidelity on 302.6 million.
Thursday's release is the second big supply event in a fortnight.
An earlier expiry on 6 August freed roughly 912 million shares, more than doubling the pool of stock available to trade.
That unlock had been widely feared, yet the anticipated flood of selling failed to materialise and the shares rose instead.
The next batch is seen as a sterner test, since early investors can now take profits at a much higher price.
SpaceX sank to an all-time low of $104.83 on 3 August, but has since recovered to around $146, back above its $135 float price.
The staggered releases run through the rest of 2026 and into 2027.
Musk's own stake, of roughly 6.4 billion shares, stays locked until June 2027, the single largest overhang still to come.
