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BlockBeats News, July 3rd, in a recent interview, BitMine Chairman Tom Lee stated that he would not set a specific price target for SpaceX because its growth is mainly focused on the future. He mentioned, "Setting a target for it now is basically discounting the growth of the next 20 years to the present, which is almost speculation."
Tom Lee specifically mentioned the upcoming share unlocking, noting that early investors are likely to hedge their positions, creating selling pressure. However, he believes this selling pressure "will instead turn into a great buying opportunity." Tom Lee suggested that it is not advisable to chase SpaceX in the short term, and it is more appropriate to build positions during the pullback caused by the unlocking.
The first significant unlocking window of SpaceX is expected after the Q2 earnings report, with the time window set between late July and mid-August. This window will allow eligible insiders/early investors to sell up to 20% of their shares. If the share price consistently remains over 30% above the IPO price (approximately above $175), an additional 10% can be released. Subsequently, there will be multiple small unlocks, such as around 7% each on August 21st and around September 10th, as well as staggered releases at intervals like 70/90/105/120/135 days. Around 28% will be released post the Q3 earnings report, and the majority of the remaining shares will be fully unlocked after the 180-day lock-up period. Core shareholders like Musk will have a longer lock-up period, approximately from 366 days to June 2027. Overall, August and September are expected to be periods with relatively concentrated unlock pressure for SpaceX.
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