SpaceX has bounced sharply despite one of the biggest supply tests since its IPO.
Around 911.5M insider-held shares became eligible for sale on August 6, more than doubling the potential public float. But the wave of selling some investors feared has yet to materialise.
Instead, $SPCX jumped nearly 16% on Friday and another 4.2% on Monday, closing at $138.74, back above the psychologically important $135 IPO price for the first time in nearly a month.
The first unlock is now behind SpaceX, but not the supply story. Another tranche of restricted shares is due to become eligible later this month, giving investors another test of demand.
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