SpaceX shares dropped to an all-time low of $108.66, slashing nearly half from their post-IPO highs. Investors are jittery about the looming August 4 earnings announcement and the August 6 lock-up period expiration.
This lock-up expiry could unleash billions of dollars worth of shares onto the market as insiders gain the ability to sell. That prospect, combined with concerns over SpaceX's lofty valuation, has spooked investors.
Market participants are watching closely, with pressure mounting as the company faces scrutiny over its financial performance and future outlook. Meanwhile, other tech stocks have also seen volatility; for example, SK Hynix shares fell nearly 5% amid similar earnings worries.
