+2.04% to $151.21 from $148.18
What moved SPCX
- Britain’s Ministry of Defence disclosed it has spent nearly $40 million on SpaceX satellite services, becoming the first country outside the United States to publicly confirm using SpaceX’s military-grade Starshield service.
- The spending included about £13 million ($17.6 million) on Starshield terminals and airtime and about £16.5 million on Starlink, with the ministry operating roughly 1,000 Starshield terminals and 500 Starlink terminals.
- The UK shifted operational military communications to Starshield after SpaceX said Starlink use should be limited to morale, welfare, recreation and training purposes.
Sources: Yahoo Finance UK
-4.05% to $134.00 from $139.65
What moved SPCX
- Shares fell as the company’s second post-IPO insider-share unlock took effect Thursday, making up to 319 million restricted shares eligible for sale.
- The move follows an initial lockup expiration on August 6 that freed roughly 911.5 million insider shares as part of a staggered, multi-tranche unlock structure.
- Additional tranches of roughly 700 million shares each are scheduled to unlock in September and October, with as much as 40% of the company potentially tradable by December 8.
Sources: TheStreet · CNBC · Forbes
-3.33% to $141.29 from $146.15
What moved SPCX
- SpaceX shares have surged 35% over five sessions since the company’s first post-IPO lockup expired on August 6, adding roughly $500 billion in market capitalization and pushing the stock back above its $135 IPO price
- The lockup expiry freed 911.5 million previously restricted shares held by employees and early investors for potential sale
- Wall Street had feared the share unlock would flood the market and pressure the stock, but the rally instead gave investors optimism that future lockup expirations won’t be as painful as feared
- SpaceX’s tradable float is expected to grow to about 40% by December 2026, while Elon Musk’s personal stake remains locked until mid-2027
Sources: Bloomberg