For the first time since its IPO, SpaceX President plans to sell 340,000 shares, for…
Article excerpt
Highlighted: the sentence this signal was extracted from
By: Bu Shuqing, Wallstreet CN After its IPO, SpaceX sees the first signal of divestment from an executive: President and Chief Operating Officer, Gwynne Shotwell, plans to sell shares for over 52 million dollars. The timing, just on the eve of Starship's first orbital test, rekindles market disagreements regarding the company's current overvaluation. According to regulatory documents, Ms. Shotwell is expected to divest 342,170 shares, representing a total market value of approximately 51.96 million dollars, acquired through cash exercise of stock options. Concurrently, another financial disclosure reveals that an investment account held in the name of US President Donald Trump conducted short-term trades in SpaceX shares in July, further fueling questions about insider trading. SPCX shares advanced by approximately 2% on Tuesday, closing at 154.72 dollars, thus ending two consecutive sessions of decline. These disclosures come during the critical window preceding SpaceX's planned mission for Starship flight number 14. This mission, which cannot take place before September 28, aims to place the upper stage into Earth orbit for the first time and deploy 26 Starlink V3 satellites. The success or failure of these tests will directly influence market expectations regarding SpaceX's commercialization and could exert potential pressure on the stock price. The divestment carried out...
Keep reading with a free account
The rest of this article, and every signal for SpaceX, is in your free account.
