SpaceX's 911.5 Million Share Unlock Tests a Staggered Lockup Design — and a Stock Already Down 49%

Roughly 911.5 million SpaceX insider shares became eligible for sale August 6 under a staggered 10-month lockup — not the standard 180-day cliff. A further 455.8 million shares unlock only if the stock holds above $175.50 for five of 10 consecutive trading days, a level it hasn't sustained. Shares sat 49% below their June high and under the $135 IPO price.