SpaceX’s 116 billion-dollar stock is set to be unfrozen! Shorts have locked up 30% of the tradable shares

According to Bloomberg, aerospace giant SpaceX is set to undergo one of the largest stock unlocks in the history of the capital markets this August, with as much as $116 billion worth of shares being offered for sale for the first time. Despite the fact that SpaceX’s stock price has pulled back 37% from its June high and that about 30% of tradable shares have been locked by short sellers, thanks to the cushioning effect of a phased unlock mechanism, early investors will still be presented with an astonishing opportunity to exit with profits.
(Background recap: SpaceX dips below the issue price! Short positions surge to $25 billion, accounting for nearly 30% of the float.)
(Additional background: SpaceX falls below the $135 issue price—what comes next after the story premium fades back?)

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• The first batch of shares will be released on August 6, using an unusual “staggered lock-up period”
• Shares plunge 37% from the peak, and short sellers rake in $7 billion
• Valuation once topped $1 trillion, yet early investors still stand to reap massive gains

After completing its highly watched initial public offering (IPO), spaceflight commercial powerhouse SpaceX is about to face a major test in the capital markets. On July 21, 2026, Taipei time, according to a report by Bloomberg senior reporter Bailey Lipschultz, SpaceX is prepared to experience one of the largest share unlocks in capital market history, with an estimated $116 billion worth of saleable shares to be released in August 2026.

The first batch will be unfrozen on August 6, using an unusual “staggered lock-up period”

According to the report, SpaceX’s first-stage insider lock-up restrictions will officially be lifted on August 6, that is, two days after SpaceX publishes its Q2 earnings report. At that time, 911.5 million shares will be allowed into the market for the first time.

It is also worth noting that, to avoid a sudden flood of shares dumping all at once and causing severe pressure on the market, SpaceX has adopted a relatively rare “staggered lock-up” mechanism:

• First release: After the Q2 earnings release, about 20% of shares will be unlocked. If, during the 10 trading days before the earnings are announced, the stock price rises on 5 days to $175.50 (more than 46% above the current share price), then performance conditions will be additionally triggered, unlocking another 455.8 million shares (bringing the first release proportion to 30%).
• Subsequent releases: After that, shares will be gradually released by 7% at intervals. Another 28% will be released after the Q3 earnings report, until all shares are fully unlocked after 180 days.
• Protection for core holdings: The lock-up period for CEO Elon Musk’s own shares and some key core investors will last 366 days (until June 2027), and will not create direct selling pressure on the market in the short term.

Shares have plunged 37% from the peak, and short sellers have made $7 billion

This massive unlock plan is unfolding as SpaceX’s stock price is in a period of adjustment. Since hitting a record high on June 16, 2026, SpaceX’s stock price has fallen by about 37% and is currently consolidating around $119.85.

The pullback in the stock price has attracted a large influx of short-selling capital. According to data from financial data provider S3 Partners, as much as 30% of SpaceX’s tradable shares are currently being shorted. As the price continues to decline, short sellers have booked profits of roughly $7 billion to date. Investors are now closely watching whether the phased unlock will further trigger early investors to take profits and sell, potentially becoming ammunition for short sellers to add to their bearish bets.

Valuation once topped $1 trillion, yet early investors still stand to reap massive gains

Even though the stock price has recently retreated sharply, for insiders and private buyers who participated early, this remains a rare capital feast. Looking back one year ago, SpaceX’s valuation in the private market was about $400 billion. And earlier this year, after successfully acquiring the AI startup xAI (at the time xAI’s valuation was about $250 billion), SpaceX’s overall valuation surged even further to an astonishing $1 trillion.

Market analysis suggests that although the design intent of the phased unlock mechanism is to cushion market impact, given the sheer scale of the unlock amount and the pressure from valuation resets, SpaceX stock is expected in the coming months to still face relatively intense price swings and a clash between bulls and bears.