SpaceX stock tied to large share unlocks and heavy spending
Shares rose from $104 to $142 but momentum faded; 319M shares unlock Sept. 9 and 59M on Sept. 10, while capital spending has risen sharply.
SpaceX shares climbed from a year-to-date low of $104 to about $142 in recent weeks. Short-term momentum on technical charts has weakened.
On four-hour charts, the Average Directional Index fell to roughly 14.5 from an August high near 30.7, a move that indicates a weaker trend. Price action formed a rising wedge, where two ascending trendlines converge. The Percentage Price Oscillator shows a bearish divergence, with the oscillator falling while the stock price rose. Traders use those signals to assess trend strength and the chance of reversals.
Supply of tradable shares is set to increase in September. A block of 319 million shares is scheduled to unlock on Sept. 9 and 59 million more on Sept. 10. More than 2.62 billion shares are due to become tradable this year, with additional unlocks expected next year. Lockup expirations release previously restricted shares into the market and can be accompanied by insider sales.
Capital expenditures have grown across SpaceX’s divisions. The company’s space division reported about $1.17 billion in capital spending for the quarter, up from roughly $1.05 billion in the same quarter a year earlier. The unit focused on artificial intelligence reported about $15.8 billion in capital spending for the quarter, up from about $7.7 billion a year earlier, and about $23 billion in spending in the first half of the year during a data-center expansion. Management replaced some leaders in the AI unit after reports of project delays.
The AI product set includes a chatbot called Grok. Grok competes with other U.S. models and with Chinese platforms such as Kimi and DeepSeek. The AI segment has reported business from corporate customers including Anthropic and Google. Competing firms in the market for AI infrastructure and data-center capacity include CoreWeave, Nebius and Meta Platforms.
SpaceX’s market capitalization is approaching $1.95 trillion. The company has expanded beyond rocket launches into satellite internet and an AI-focused unit that has required large capital investments.
Share release schedules are tied to prior equity grants and financing rounds that imposed temporary lockups; when those restrictions lift, previously restricted shares can be sold on public markets. Technical indicators cited by traders-such as the ADX, rising-wedge patterns and oscillator divergences-are tools used to measure trend strength and the possibility of price reversals.
Articles by this author
