SpaceX (SPCX) Absorbs Last September Lock-up Release... What's the Direction for Q4?

▲ SpaceX (SpaceX, SPCX), USD/AI Generated Image

SpaceX (SpaceX, SPCX) stock price showed a downward trend ahead of the release of 328 million shares of insider lock-up. As a large volume of shares became available for sale, the burden of short-term circulating supply is weighing down the stock price.

According to Coingape, a virtual asset and financial media outlet, on September 24 (local time), 328 million shares of SpaceX became eligible for public market sale for the first time starting that day. This release is the fourth lock-up expiration since SpaceX's listing on June 12. Previously, 911.5 million shares were released on August 6, 319 million shares each on August 20 and September 9, and 59 million shares on September 10, making this the final release volume for September.

Analysis suggests that downward pressure on the stock price could increase if early insiders and institutions holding these shares move to realize profits. SpaceX has been absorbing the largest lock-up release schedule in its history immediately after listing. The market is watching for actual sales of the released volume and the short-term dilution effect due to the expansion of circulating shares.

Experts are focusing on both technical support levels and fundamentals. SpaceX stock price has continuously tested settling above the $150 resistance level within an upward channel. Expectations also remain for reaching $185, which is the Fibonacci 161.8% level, or $195 upon completion of a cup-and-handle pattern.

As the large-scale lock-up schedule for September concludes, the remaining release volumes will become prominent in Q4. Market attention is focused on whether the stock price can absorb the impact of the 328 million share release and settle into a rebound trajectory.

[Article Key Summary]

-SpaceX (SPCX) saw a decline in its stock price as it faced the release of 328 million lock-up shares.

-This is the fourth large-volume release since its listing and the last scheduled lock-up expiration for September.

-The market is watching whether it will digest the shock of circulating share supply and defend the $150 support level.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*