Curious if anyone here has a position in SPCX or is considering one. It seems much of the initial price run up was due to the relative scarcity of shares. That is about to change.

After the first public earnings report, up to 911.5 million shares will become eligible for sale. An additional 455.8 million can be released if SPCX closes at or above $175.50 on five of ten specified trading days. There will be more tranches between August 20 and December 8, with more non-Musk tranches scheduled for 2027. Musk's 6.4 billion shares/options remain locked until June 12, 2027. Scarcity is no longer an issue. Now it’s a question of valuation.

The stock is now down to $120, about 10% below the IPO price and about 50% off its high. Many think it will go lower based on fundamentals. But not a ton of shorts. Not sure I am interested, but I have been trying to determine a good entry point. Certainly below $100, but how much lower? Any opinions welcome.

abromber