The Elusive "Lockup" Event: Why SpaceX's Trading Day Turned Out to Be a Non Event The recent lockup expiry of nearly a billion insider and employee shares in SpaceX has been touted as one of the most feared trading days on Wall Street.
Yet, instead of unleashing a torrent of selling pressure on the stock, the event turned out to be a non event – with shares actually bouncing back 6% after some initial weakness.
The conventional wisdom had it that insiders would rush to dump their shares in a fire sale, creating a wave of supply that would swamp the market and send SpaceX's stock plummeting.