Musk stocks lose $1.5T combined — SpaceX faces first lockup test Aug. 6
Tesla and SpaceX have together shed $1.5 trillion in market value since their mid-June highs, and SpaceX now faces a fresh test: its first post-IPO lockup expiration on Aug. 6, two days after its debut earnings report — unlocking 20% of eligible shares, about 911.5 million, worth roughly $123 billion.
Per CNBC, Tesla and SpaceX have together erased $1.5 trillion in market value from their mid-June peaks — SpaceX down nearly 50% from its high, and Tesla off 18% since last week's earnings report.
SpaceX is set to report its first quarterly earnings as a public company on Tuesday, Aug. 4. Options markets are pricing in a roughly 15% post-earnings swing, with implied volatility of 122 — higher than every S&P 500 stock except SanDisk.
SpaceX's lockup structure is unusual: it allows insiders to begin selling earlier than the standard 180-day window, triggered by the first earnings release. Two full trading days later, on Aug. 6, 20% of eligible locked-up shares — about 911.5 million, worth an estimated $123 billion at current prices — become tradable.
With Musk as CEO and largest shareholder of both companies, the unlock adds a fresh source of volatility to his overall net worth and market sentiment. A second tranche of 455.8 million shares is set to unlock around Aug. 20, meaning the selling pressure may not end with a single event.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.