SpaceX's 911.5 Million Share Unlock Hits Tomorrow. What Investors Need to Know.

Up to 911.5 million SpaceX shares become eligible for sale tomorrow.

While Q2 revenue surged 92% to $7.81 billion, the stock tanked more than 10%.

Early investors and employees sitting on paper gains may rush to sell after watching the stock get hammered since the IPO.

Up to 911.5 million shares of Space Exploration Technologies Corp. (NASDAQ:SPCX) become eligible for sale tomorrow, Thursday, Aug. 6. It’s the first major release since the company’s blockbuster initial public offering (IPO) on June 12.

Given that IPO put roughly 639 million shares into public hands, tomorrow’s unlock more than doubles the number of shares available for sale, though there is no guarantee the early investors and employees that own them will choose to actually sell. But with the numbers we’re talking about, it wouldn’t take much to really move the stock price.

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Less than 5% of SpaceX was available for public trading at the IPO, an unusually small float -- the term for the shares that you and I can actually buy or sell. It’s part of why there was so much buying pressure right off the bat; there just weren’t that many shares available to begin with.

But starting tomorrow and continuing over the next few years at staggered intervals, more and more shares will be unlocked, and the float will grow. You can check out the release schedule in the table below: