SpaceX's Stock Lockup Is Expiring. Prepare for a Bumpy Ride.

SpaceX is heading into a period of potential share-price volatility as the first lockup on shares of Elon Musk’s rocket company expires on Thursday. Employees and other insiders who were barred from trading after SpaceX’s June IPO will be able to sell, which is intended to prevent post-offering share flooding that can push prices down. But with the stock already choppy—briefly soaring before falling nearly 50% from its $135 IPO price—additional supply could pressure the market further. When the lockup ends, 912 million shares will become available, more than double the current tradable supply, a change that typically leads to about a 1.5% average price drop, per a Notre Dame law professor.