SpaceX shares rise approximately 50% despite insider stock release
SPCX Space Exploration Technologies Corp
$156.54 -4.21%
View chart & analysis → - 1Approximately 2.3 billion shares held by SpaceX employees and early investors were released to the market following the expiration of lock-up periods since early August.
- 2SpaceX shares closed at approximately $163 on Monday, marking an increase of about 50% compared to the August 5 closing price of $108.
- 3SpaceX second-quarter revenue reached $7.8 billion, a 92% increase from the previous year.
So what's the key point?
A large amount of stock held by SpaceX employees entered the market. However, the share price rose to $163 as revenue increased significantly.
Source The Motley Fool +1 · View original ↗
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