SpaceX Stock Rebound Falters on Lockup Expiry Concerns

SpaceX stock is attempting to recover from its post-IPO decline, boosted by Elon Musk's expanded partnership with Nvidia.

The stock needs to climb above the $120 level to signal an end to the current downtrend, despite recent buying activity.

Investors are cautious ahead of SpaceX's first major share unlock, which could significantly increase the public float.

SpaceX reported strong revenue growth in its latest quarterly results, with revenue surging 92% year-over-year to $7.81 billion, beating analyst expectations of $6.82 billion.

However, the company's massive capital expenditures have raised concerns about profitability and cash flow.