SpaceX resists pressure from the first wave of stock unlocks, with stock price rebounding and trading volume surging.

On Thursday, SpaceX welcomed the first wave of stock unlocks, with the number of shares available for trading more than doubling, yet the stock price ultimately rose by 6.1%, with trading volume surging and exceeding market expectations. SpaceX's initial public offering set the record for the largest size in U.S. history, but the percentage of shares available for public trading is less than 5%. However, the lock-up restrictions on insider, employee, and early investor additional share sales are expected to gradually expire over the coming months. Thursday marked the first wave of unlocks, involving 911.5 million shares, which adds more shares to the market beyond the approximately 639 million shares sold during the IPO. By the time the overall lock-up period expires on December 8, the circulation ratio of SpaceX's potentially tradable shares will increase to 40% of total equity. The remaining 60% of shares will remain locked until mid-2027. Since SpaceX went public, its stock price has continued to decline. Due to financial reports that intensified market concerns about operational losses and AI spending plans, it plummeted by about 14% on Wednesday.