00:00It's Benzinga, bringing Wall Street to Main Street
00:02SpaceX shares fell Wednesday as a proposed insider sale, and an upcoming post-IPO share
00:07unlock raised concerns about additional stock supply. According to a regulatory filing,
00:11President and COO Gwynne Shotwell filed to sell 342,170 Class A shares, valued at about $51.96
00:20million, after exercising stock options under a previously established trading plan.
00:25A lockup expiration Thursday could release up to 328.4 million shares for potential sale by early
00:31investors and employees. The 10-year Treasury yield also climbed to a 19-year high, increasing
00:37pressure on capital-heavy technology companies. Higher borrowing costs could weigh on SpaceX as
00:42it funds Starlink satellite replacements, Starship infrastructure, and orbital AI data center
00:47projects. Shares closed 4.11% lower at $148.36, according to Benzinga Prodata.
00:53For all things money, visit Benzinga.com.
