SpaceX Shares Drop 7% Despite Strong Earnings as Share Lockup Nears Expiry

SpaceX's first quarterly results as a public company beat expectations, yet shares fell 7% in late trading on August 4, 2026. Investors focused on an August 6 lockup expiry — when 911.5 million employee and early-investor shares become free to trade. A second tranche of 1.3 billion shares remains locked until June 2027. Elon Musk cannot sell until 366 days post-IPO.