SpaceX Stock (SPCX) Surges 16% as August Lockup Expiration Clears Without Selloff

SpaceX (NASDAQ: SPCX) gained 15.8% on Friday, August 7, 2026, closing at $133.11 from a prior session close of $114.92, after the company's first major post-IPO share lockup expiration on August 6 passed without a broad insider selloff. Volume reached 235 million shares as buyers stepped in, reversing the post-earnings decline that followed SpaceX's Q2 2026 results on August 4.

Lockup expiration clears the first test

SpaceX's August 6 lockup expiration marked the first significant supply-side test since the company debuted on the Nasdaq on June 12, 2026 at $135 per share. Before August 6, the public float represented less than 5% of total shares outstanding. The expiration expanded that float to above 12%, according to reporting on the company's post-IPO share unlock schedule, raising concerns that early investors and employees would rush to exit their positions.

That selloff did not materialize. SPCX gained 15.8% in Friday's session, the day after the unlock, with heavy volume confirming buyer demand rather than indiscriminate supply. The next scheduled unlock falls on August 20, 2026, with a final tranche expected in late September 2026.

Q2 earnings set the context

Friday's recovery also reflects investors more fully digesting SpaceX's second-quarter 2026 results, released August 4. Revenue rose 92% year over year to $7.81 billion, beating analyst estimates of $6.93 billion, according to SpaceX Investor Relations. The Connectivity segment generated $4.3 billion in revenue, supported by Starlink's 12 million global subscribers, a figure that doubled from a year earlier and rose 17% from Q1 2026. The AI segment grew 247% year over year to $2.6 billion. Adjusted EBITDA rose 191% to $3.5 billion. The net loss narrowed to $541 million from $1 billion in Q2 2025.

The figure that initially spooked investors was capital expenditure: $18.37 billion in the quarter, more than sixfold higher year over year, with approximately $15.8 billion directed at AI infrastructure, CNBC reported in its earnings coverage. Shares dropped roughly 8.6% after hours following the August 4 report before settling near $114.92. Friday's 15.8% recovery brings SPCX to $133.11, approximately 1.4% below its $135 IPO price.

What comes next for SPCX

Two lockup expirations remain on the schedule. The August 20 tranche is expected to add additional float; investor attention will be on whether selling pressure remains contained, as it was on August 6. The final major expiration in late September 2026 will fully normalize the public float.

On the fundamental side, the central question heading into Q3 earnings is whether the $15.8 billion in Q2 AI infrastructure investment begins generating proportionate revenue acceleration. The AI segment's 247% year-over-year growth rate points to early momentum, but the capex pace significantly exceeds current AI revenues, making the return timeline a key variable for valuation.

SpaceX's market capitalization at Friday's close is approximately $1.75 trillion, consistent with the company's IPO valuation from June 12.

Related: SpaceX stock hub: price, valuation, and how to buy SPCX | IPO Watch: all coverage

Not investment advice.