Space Exploration Technologies (SPCX) stock rebounded on Friday as the market absorbed a major release of previously restricted shares, sending the stock back above its $135 initial public offering price.

SPCX rose 1.53% to $136.05 after recovering sharply from an intraday low near $131.50. The recovery followed Thursday's 4.05% decline and brought the stock back above the $135 price at which it entered public markets, reversing a dip below its IPO level earlier in the session.

Stock Recovers After Major Share Release

The latest unlock made 319 million SpaceX shares eligible for trading after earlier restrictions expired. At the $135 IPO price, those shares carry a combined value of nearly $43 billion. However, eligibility for trading does not require existing shareholders to sell their positions immediately.

Restrictions of this kind, commonly known as lockups, are a standard part of how companies move from private to public ownership. They are designed to prevent early investors and employees from selling all at once in the period just after listing, and their expiration enlarges the float, the portion of a company's shares that can actually trade on the open market.

SPCX initially faced pressure as the additional supply entered the market, but the stock later recovered. Shares climbed above $137 during Friday trading before easing back toward $136.05. Even after the pullback, the stock remained above the $134 level reached during Thursday's session.

The rebound followed a difficult previous session in which SPCX closed down 4.05% at $134. Friday's advance therefore recovered part of that decline while reversing earlier weakness. Trading remained active throughout the day as the market adjusted to the increased number of shares available for sale.

More Shares Become Tradable in September

The latest release does not mark the end of SpaceX's scheduled share unlocks. Another 319 million shares are expected to become eligible for trading during September, matching the size of the tranche that just became eligible. Further releases will continue through 2027 as restrictions on additional holdings expire.

Share unlocks increase the amount of stock that existing shareholders can potentially sell in public markets. Each release therefore expands the available supply even when shareholders choose to retain their positions. The structure allows previously restricted shareholders to decide when they want to sell their eligible shares.

SpaceX entered public markets with an IPO price of $135 per share. Friday's $136.05 price consequently placed SPCX slightly above its original offering level. The stock also recovered from the session's $131.50 low as trading conditions improved during the day.

SpaceX Operates Beyond Its Core Launch Business

SpaceX operates launch, satellite, and space infrastructure businesses, with Starship remaining central to its long-term development plans. The company continues developing the spacecraft for reusable launches and larger payload missions. Starship also supports SpaceX's broader efforts to reduce launch costs through reusable rocket systems.

The company's operations also include the Starlink satellite network, which provides internet services through low-Earth orbit satellites. Starlink has grown into one of the largest satellite constellations in orbit, making it a significant part of SpaceX's activities beyond launch services. SpaceX has expanded that network while continuing regular rocket launches for commercial and government customers. These businesses give the company several operating segments beyond its core launch services.

Friday's Session in Focus

Friday's trading centered on the immediate effect of the $43 billion share unlock and the stock's recovery. SPCX regained ground after falling below its IPO price earlier in the session. However, another large scheduled unlock in September will further increase the number of shares eligible for trading, with additional restrictions set to expire through 2027.

Because unlock dates are fixed in advance, they function as known supply events that markets can anticipate, even though the extent to which eligible holders actually sell remains their individual choice.

Source: Blockonomi