Post by @thewallstreetskinny

SpaceX announced earnings today, August 4th: they beat. That’s not the interesting part. Per the prospectus, that will trigger the first official unlock August 6th which will result 911 million shares unlocking. 2 weeks later August 21st there will be another 319 million shares that unlock just in time for Nasdaq’s quarterly rebalancing expected to come around September 18th. Additionally, according to Yahoo finance: "Short interest in SpaceX's stock stood at 219.3 million shares as of July 29, according to data from S3 Partners cited by Bloomberg. It works out to about 34% of all shares currently available for public trading, up sharply from 23.3 million shares”. The share price was up 10% going into the announcement which means some short sellers got squeezed, resulting in possible forced buying ahead of the unlock which won’t until Thursday, August 6th (two days from now). But what’s more interesting is what happens post unlock (two waves are coming Aug 6 and Aug 21) and then when rebalances happen for the Nasdaq and other indices.