U.S. stocks movement | SpaceX (SPCX.US) rises over 8% as lock-up shares are released without selling pressure, and short covering drives the stock price up

智通财经APP has learned that on Friday, SpaceX (SPCX.US) surged by over 8%, closing at $124.46. According to reports, on August 6, the first batch of 911.5 million restricted shares held by SpaceX insiders were officially unlocked, potentially releasing around $100 billion in market capitalization—however, the widely anticipated secondary sell-off in the market did not occur. Market participants noted that some short-selling strategies were not simply based on expectations of a deteriorating fundamental outlook, but rather targeted the possibility that early investors and employees might cash out en masse after the lock-up expiration. If actual insider selling is lower than anticipated, the pressure for short covering should not be underestimated.