SpaceX Stock Drops 11% on Lockup Expiration and Capex Spending Concerns

SpaceX shares have extended their decline to 11%, driven by investor concerns over the upcoming lockup expiration and rising capital expenditure (capex) spending. The lockup period, which restricts early investors and insiders from selling their shares, is set to expire, potentially flooding the market with additional supply. Meanwhile, fears over SpaceX's aggressive capex plans, particularly in its Starlink satellite internet division and Starship development program, have weighed on sentiment. Analysts note that while SpaceX remains a leader in the commercial space industry, the combination of near-term supply pressure and heavy spending could create volatility for the stock in the coming weeks.