SpaceX shares fall as second lockup period ends

Investing.com -- SpaceX stock dropped about 5% on Thursday as additional shares became available for trading following the end of a lockup period.

The newly released shares represent roughly 7% of the company's total outstanding stock. This marks the second group of shares to be freed from post-IPO trading restrictions.

The decline extends SpaceX's losing streak to three straight sessions.

SpaceX's stock initially surged after its IPO, climbing from the $135 offering price to over $225. The shares then fell to their all-time low of $108.27 less than two months later. The stock has since moved back to the $130-$140 range.

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