SpaceX Stock Will Face a Reckoning When Investor Lockups End
SpaceX stock rose for a third consecutive day on Tuesday. There doesn't seem to be any reason for it to decline over the next few days, and there are a few reasons to expect shares to maintain their momentum.Shares of Elon Musk's rocket company gained 4.8% on Tuesday, closing above $200 for the first time. Coming into Wednesday trading, shares were up almost 50% from their $135 IPO price, valuing the company north of $2.6 trillion. It's been a remarkable run.Tuesday trading was helped by the debut of stock options. SpaceX options were among the most actively traded, which is a little surprising, given that only about 640 million shares are available for trading.Normalizing for the stock available to trade, SpaceX options were four times as active as Tesla options and 25 times more active than Nvidia options. Call options, which give the holder the right to buy stock at a fixed price in the future, were more popular than puts. . Exactly how shares will trade is impossible to say. And in