SPCX.TO is trading at CA$22.50 (-3.39%) as a large SpaceX lock-up expiration reportedly makes up to 319 million shares eligible for sale on August 20, increasing potential supply and weighing on the underlying stock.
- Renewed increases in long-term Treasury yields pushed the 30-year yield to 5.217%, pressuring highly valued, capital-intensive technology and AI businesses.
- SpaceX’s previously disclosed $18.4 billion quarterly capital spending includes $15.8 billion for AI infrastructure, reinforcing valuation and profitability concerns.