What Happened
Market Reacts as Float More Than Doubles in Single Day
SpaceX has seen a significant increase in its tradable shares, with 911.5 million shares becoming eligible for trade, representing a 43% increase in the company’s float. This development has led to a market reaction, with the stock closing up 6.1% on the first day of trading. The increase in tradable shares is part of a staggered release, with further tranches expected in September and October. This news was first reported by an unknown source.