I saw so many comments this morning about people frustrated with $SPCX stock after an awesome earnings call
FAR too often people confuse stock price movements caused by fundamental business changes vs. those caused by financial engineering + structural supply/derivative/HFT mechanics
I present to you exhibit A:
The Kobeissi Letter (@KobeissiLetter)
BREAKING: A total of 911,500,000 shares of SpaceX, $SPCX, held by employees and early investors, become eligible to trade tomorrow.
That's ~43% more than the 638,900,000 shares issued at IPO.
SpaceX's free float is set to increase from 4.9% to 11.8% of outstanding shares.
— https://nitter.net/KobeissiLetter/status/2084981639231229990#m