SpaceX Stock Falls 18% Below IPO Price, Morgan Stanley Implies Zero AI Value

According to Morgan Stanley, SpaceX stock fell to $110.85 earlier this week, down 18% from its $86 billion IPO price in mid-June, suggesting investors are assigning minimal or no value to the company's AI business.

An August 6 lockup expiry will allow 911.5 million shares held by early investors and executives to become eligible for trading, with another 455.8 million shares potentially unlockable under certain conditions. Large share unlocks typically increase volatility as investors anticipate additional supply.