US Stock Market Move | SpaceX (SPCX.US) rose over 8%. The unlock of restricted shares did not lead to selling pressure, and short covering pushed the stock price up.
On Friday, SpaceX (SPCX.US) rose by over 8%, closing at $124.46.
On Friday, SpaceX (SPCX.US) rose by over 8%, closing at $124.46. In terms of news, on August 6, the first batch of 911.5 million restricted stock held by insiders officially became unrestricted, potentially releasing a market value of about $100 billionhowever, the widely anticipated second dip in pricing did not occur. Market participants stated that some short-selling strategies are not purely betting on a deterioration of fundamentals, but are instead targeting the potential concentrated cashing-out by early investors and employees after the restriction on the shares is lifted. If insider selling is less than expected, the pressure for short covering cannot be overlooked.
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HK Bull/Bear Outstanding Qty Ratio(49:51) | August 8
Overnight US stocks | In July, non-farm payrolls unexpectedly declined, and the S&P 500 index reached a record closing high. SpaceX (SPCX.US) surged nearly 16%.
Data center operator Switch has secretly filed for an IPO on the US stock market, with the earliest listing expected in November.
HK Bull/Bear Outstanding Qty Ratio(49:51) | August 8
Overnight US stocks | In July, non-farm payrolls unexpectedly declined, and the S&P 500 index reached a record closing high. SpaceX (SPCX.US) surged nearly 16%.
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