SpaceX selloff's an ominous sign as lockup expiry looms

SpaceX shares have seen a selloff after its record US IPO valued the company at $2.1 trillion, with the stock now trading at 49 times expected revenue. Insider lockup restrictions will lift over coming months, potentially releasing around 911.5 million shares worth about $123 billion after the company's first quarterly report, with additional shares eligible if the stock stays above $175.50. Restrictions through December 8 will increase tradeable float to 40% of the company, while Musk's stake remains locked until mid-2027.