SpaceX SPCX Tokenized Volume Hits $700M as Stock Rallies 6% Post-Unlock

SPCX-3.84%
According to Gate data, the platform's tokenized SPCX product logged $332 million and $360 million in trading volume on August 4 and 5, respectively, ahead of SpaceX's largest share unlock since its June IPO. On August 6, when 911.5 million Class A shares became eligible for sale, SPCX stock closed up 6.1% at $114.92, defying typical unlock-driven selling pressure that would normally weigh on valuations. Morgan Stanley analyst Adam Jonas characterized the lockup expiration as an entry opportunity, while Bernstein raised its price target to $248.
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