Morningstar

Money Moves

Coverage active; $780B fair value target unchanged as of July 7; stock trading at ~$150, about double Morningstar's fair value

SpaceX's first lockup wave freed 911.5 million insider shares on August 6, more than doubling the stock's tradable float to 11.8% of shares outstanding from 4.9%. SPCX touched a new intraday low of $105.11, below the July 28 record of $107.01. Heavy selling never showed up: shares reversed and traded higher for much of the day, at one point up as much as 6%.

Updated Aug 6