Space Exploration Technologies Corp (NASDAQ:SPCX) shares are trending Thursday, driven by the expiration of the company’s lockup period.
- SpaceX stock is showing upward movement. Why are SPCX shares climbing?
Lockup Expiration Expands SpaceX’s Public Float
As of today, shares of SpaceX open to public trading will jump from under 5% to above 12%, and further tranches of the lockup are due to lift on Aug. 20 and again in late September. There have been fears that this growing supply of tradable shares could spark weakness in the stock. On the other hand, it may also push up the company’s weighting within float-adjusted benchmarks, expanding its footprint across the passive ETF landscape.
Thursday’s unlock significantly increases the potential supply of stock, which hands long-term holders liquidity that could shift market dynamics from scarcity-driven pricing to something closer to normal price discovery. SpaceX’s share count in public hands is going to keep expanding in waves through year-end, so each subsequent date is worth watching as its own potential volatility catalyst.
SpaceX is outperforming the rest of Communication Services this session, rising over 2% against the sector’s 0.18% gain. On a day when the S&P 500 and Nasdaq are slightly lower, that kind of spread usually reflects stock‑specific demand rather than a simple move with broader market beta.
SpaceX stock carries a consensus Buy rating with an average price forecast of $228.72 across analysts. Recent analyst moves include:
- Macquarie: Outperform (Maintains Target to $250.00) (Aug. 5)
- Piper Sandler: Neutral (Lowers Target to $140.00) (Aug. 5)
- Wells Fargo: Overweight (Lowers Target to $215.00) (Aug. 5)
SpaceX stock is currently trading below its key moving averages, indicating some bearish pressure in the short term. The RSI is currently at 37.64, which is considered neutral, but it’s nearing oversold territory. MACD is below its signal line, indicating bearish pressure.
Currently, there are no clearly defined support or resistance levels for SpaceX, which makes it difficult to predict price action in the near term, especially considering the uncertainty around share unlocks.
SPCX Shares Are Rising
SPCX Price Action: SpaceX shares were up 2.17% at $110.63 at the time of publication on Thursday. The stock is near its 52-week low of $104.83, according to Benzinga Pro.
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