SpaceX extends decline to 11% on lockup expiration and capex spending fears
CoinDesk·
60-second summary
SpaceX's decline extends to 11% as investors focus on capital spending and free cash flow pressure amid a looming insider lockup expiry, despite no Bitcoin sales in the second quarter. The impending expiry of a 6-month lockup period for insiders sparks concerns about potential selling pressure, weighing on the company's valuation and overall market sentiment.
The company reported no BTC sales in the second quarter, but shares fell before the open as investors focused on capital spending, free cash flow pressure and a looming insider lockup expiry.