SpaceX lock-up expiration

It was a good and fruitful Black Hat conference and overall I had a good time in Vegas these past couple of days. These conferences are always exhausting and yesterday was no exception. Even after getting pretty good rest Tuesday night, I was running on fumes most of Wednesday and relying on caffeine to get me through. The earlier week travel and craze definitely contributed.

I suppose I’m officially old now as I was in bed before 9pm last night. We had a nice dinner and I had a thought of perhaps gambling a bit more after, but ultimately I decided to prioritize recovery. I’m thanking myself today as I look to close out the conference and head back to San Francisco.

The big news of the day is the SpaceX lock-up expiration. We have never seen anything to this scale before. The available shares to trade has more than doubled today as the first lock-up expired. The stock has taken a dip in the last weeks with the expectation of the expiration. But it does appear to be holding fairly steady today as investors had planned around this for awhile.

This is going to be a story for the coming months as more lock-ups expire with a very staggered approach. Given the scale and size of the SpaceX IPO, we’re going to have billions of shares of SpaceX unlock and it’s going to be interesting to watch what happens with the price.