Markets
August 5, 2026
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- SpaceX stock fell 13.61% to a record low ahead of a $101 billion insider share unlock
- Over 911 million shares become eligible for trading as investors weigh potential selling pressure
- Despite the decline, SpaceX’s AI business, Starlink growth, and Jim Cramer’s long-term outlook continue to support the bull case
SpaceX stock is entering one of its biggest tests since the company’s public debut. After sliding to a record low following its first quarterly earnings report, investors are now watching a massive SpaceX share unlock. This could change the course of trading over the coming months. At the same time, the company’s rapidly expanding SpaceX AI business continues to attract attention. This has left the market split between near-term selling pressure and the promise of long-term growth.
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Why the $101 Billion SpaceX Share Unlock Matters
SpaceX stock tumbled 13.61% on Wednesday to close at $108.27. This marks one of its lowest closing prices since the company’s June IPO. The sharp decline came a day after SpaceX reported its first quarterly earnings as a public company.
More than 911.5 million SpaceX shares held by employees and early investors became eligible for trading on August 6. This marks the first major lockup expiration since the company’s June IPO. The newly tradable shares are worth roughly $101 billion based on recent market prices.
Unlike most public listings, SpaceX floated less than 5% of its outstanding shares during its IPO. This created a limited public float that helped fuel early buying demand. This dynamic is now beginning to change. By December 8, nearly 40% of the company could be freely tradable. Meanwhile, Elon Musk’s stake and other extended lockup holders will remain restricted until mid-2027.
The unlock itself does not guarantee a wave of selling. It simply gives insiders the option to sell for the first time. But investors often watch these events closely because increased supply can impact a stock, especially after a sharp decline.
Despite the recent decline in SpaceX stock price, some market watchers remain optimistic. CNBC’s Jim Cramer recently said investors should consider owning SpaceX stock for the long term. Cramer acknowledged that the $101 billion SpaceX share unlock could create additional selling pressure. But he argued that Elon Musk’s track record of building transformative businesses gives the company an advantage. He added,
“SpaceX could be a 100-year piece of paper. Maybe you put some away for the next generation or even the one after that.”
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SpaceX’s AI Business Offers a Different Story Despite Decline in Stock Price
The selloff came despite a strong set of quarterly numbers. According to the company’s latest earnings release, SpaceX generated $7.8 billion in second-quarter revenue, a 92% increase year over year, led by continued strength in Starlink. This produced $4.29 billion in revenue while expanding its operating margin to 38.6%.
One standout was the SpaceX AI business, which generated approximately $2.6 billion in revenue. This makes it the company’s fastest-growing segment. Despite this, investors focused on several risks. This includes a $541 million net loss, $23.6 billion in AI capital spending, and the fact that part of the AI revenue came from a contract that can reportedly be canceled within 90 days.
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