SpaceX Stock Falls 3% as Share Unlock and China Rocket News Hit the Same Day

SpaceX stock dropped 2.6% to $139.65 on Wednesday, dragged by two headwinds converging on the same day. A looming share unlock on August 20 will release approximately 319 million shares held by early employees and investors. That second tranche follows an August 6 unlock of 911.5 million shares that doubled the public float and was absorbed well, sending the stock up 6%. The return below the $135 IPO price—first reclaimed on August 10—now looks fragile.

The selloff also reflects a competitive milestone from China. LandSpace successfully landed an orbital-class rocket booster for the first time, narrowing SpaceX’s technological lead. Larger unlocks remain on the calendar: a 1.3 billion-share tranche around Q3 earnings in November and a 180-day expiry in December. CEO Elon Musk’s 6.42 billion shares stay locked until June 2027.