SpaceX remains unfazed by the sky-high valuation surge, with shares climbing over 6%, pushing the company's total market value back above $1.5 trillion.

BlockBeats News, August 7th, according to BIT (bit.com) market data, SpaceX soared more than 6% as it fearlessly faced a massive 9.115 billion share unlock, with a total market value reclaiming the $1.5 trillion mark and the stock price currently at $114.92. Space-related stocks followed suit in the rebound, with Redwire (RDW) up 10.35%, Rocket Lab (RKLB) up 1.14%, and Virgin Galactic (SPCE) up 1.38%.

SpaceX saw its largest-ever 9.115 billion share unlock on Thursday, equivalent to over 140% of the current public float, amplifying short-term stock price volatility. By the end of this year, it is expected that over 4 billion shares will become tradable, potentially exerting sustained selling pressure on the stock price, although the market continues to monitor the company's long-term fundamentals.

Source: BlockBeats

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