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Benzinga

Business

Surbhi Jain

SpaceX Has a Hidden 30% Rule—and It Could Surprise Investors

SpaceX Nasdaq SPCX IPO

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Ahead of Space Exploration Technologies Corp‘s (NASDAQ:SPCX) expected Aug. 3 earnings report, investors may want to watch more than revenue and margins. They may also want to watch $175.50.

If SpaceX shares close above that level— 30% above the company’s $135 IPO price—on five of the 10 trading days leading up to earnings, an overlooked provision in the company’s IPO lock-up agreement will kick in, unlocking 456 million additional shares just two days after the first scheduled insider share release.

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