The SpaceX IPO only put 5% of its shares on the market. Another 20% were scheduled to unlock after the Q2 earnings call. That call was yesterday. In the meantime, the stock has fallen over 40% from its initial days of trading. $SPCX 📉 9.25% in pre-market trading as shareholders offload this junk.
SpaceX shares sink after first earnings report reveals huge AI spending plans
Elon Musk told investors that people were "underestimating" his company.
bbc.com