Space Exploration Technologies Corp. (NASDAQ:SPCX) unlocked about 911 million shares previously subject to lock-up restrictions this week, expanding its tradable share count by more than 140% as the newly public company faces intense scrutiny over its valuation and spending plans. The first major unlock came days after SpaceX reported its first quarterly results as a public company.
The IPO was expected to turn more than 4,400 current and former SpaceX employees into millionaires. One former engineer, Andre Lavoie, is now looking to sell more of his stake as the stock’s wild swings complicate his financial plans.
