US Stock Market Move | SpaceX (SPCX.US) rose over 8%. The unlock of restricted shares did not lead to selling pressure, and short covering pushed the stock price up.

On Friday, SpaceX (SPCX.US) rose by over 8%, closing at $124.46. In terms of news, on August 6, the first batch of 911.5 million restricted stock held by insiders officially became unrestricted, potentially releasing a market value of about $100 billionhowever, the widely anticipated second dip in pricing did not occur. Market participants stated that some short-selling strategies are not purely betting on a deterioration of fundamentals, but are instead targeting the potential concentrated cashing-out by early investors and employees after the restriction on the shares is lifted. If insider selling is less than expected, the pressure for short covering cannot be overlooked.