What Happened
SpaceX Lockup Period Looms Amid Market Volatility
Elon Musk’s SpaceX and Tesla have collectively lost $1.5 trillion in market capitalization since mid-June, with SpaceX experiencing a 50% sell-off and Tesla dropping 18% after its recent earnings report. The upcoming earnings report for SpaceX, combined with the end of the lockup period for insiders, may lead to increased volatility, with options prices implying a 15% swing in the stock’s value. This development was reported by CNBC.