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Judgment Day Has Arrived for SpaceX, With Up to $99 Billion in Selling Pressure Waiting in the Wings
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The Motley Fool
SpaceX's early release-eligible insiders can start selling their sharesSpaceX's IPO was nontraditional in several respects.
It also featured an accelerated and staggered share-unlock schedule for early release-eligible insiders.
Every two to three weeks through mid-December, new unlock milestones occur, allowing early release-eligible insiders to sell their shares.
This particular unlock event allow 20% of early release-eligible shares to be sold by insiders, equating to approximately 911.5 million shares.
Based on SpaceX's July ended share price, this represents up to $99 billion in potential selling pressure waiting in the wings.