With the first major lockup expiration now in the rearview mirror, SpaceX shares have fallen to within 4% of that original $135 IPO price, touching a recent low of $108.27 before recovering slightly. In practical terms, the supply of freely tradable SpaceX stock roughly doubled in a single day. The staggered nature of SpaceX’s lockup schedule adds another layer of complexity. Their 366-day restriction means they’re deeply incentivized to support the stock through continued execution and strategic announcements rather than letting it drift below the IPO price before their own exit window opens. The $135 IPO price is now functioning as a psychological floor, the line between a rough start and a genuine problem.