Jim Cramer Tracks Huge 1.3B SpaceX Lockup Release

Jim Cramer Shares SpaceX Lockup Schedule

Television host Jim Cramer recently gave investors a closer look at what could be a turning point for SpaceX stock. On Friday morning, he posted a detailed printout tracking insider shares that are becoming eligible for public trading.

According to Cramer's tracker, a fresh batch of up to 328.4 million shares became unlocked on Friday. However, an even larger release is coming up, bringing up to 1.31 billion shares into potential circulation.

What Is a Stock Lockup Period?

When a company goes public through an Initial Public Offering (IPO), early investors, founders, and employees sign a legal agreement called a lockup. This agreement stops insiders from selling their shares immediately after the company debuts on the stock market.

SpaceX went public back in June 2026. Since then, the company has released restricted shares in staged phases.

Think of a lockup like a release valve on a dam. If all insiders sold their shares on day one, the sudden flood of supply could crash the stock price. By releasing shares in batches, the market gets time to absorb the new supply gradually.

Billions of Dollars in Shares Heading to Market

Friday's unlock was substantial on its own. Financial media outlet Motley Fool estimated that the 328.4 million shares unlocked on Friday carried a market value of nearly $51 billion.

Motley Fool voiced concern over the schedule, characterizing it as potentially disadvantageous for everyday retail investors because of the rapid expansion of share supply.

Yet, the biggest date on Cramer's tracking sheet is still ahead. Up to 1.31 billion shares will unlock exactly two trading days after SpaceX releases its third-quarter earnings report.

SpaceX has not officially set a date for that earnings release yet. Cramer's sheet also highlights an important nuance: just because insiders gain permission to sell does not mean they will automatically sell their holdings.

Is SpaceX Stock Too Expensive?

The prospect of billions of new shares entering the market has revived debates over SpaceX's valuation. According to FactSet data, SpaceX currently trades at roughly 137 times its expected earnings for the next 12 months.

Despite this high price-to-earnings ratio, Jim Cramer defended the stock on his show, stating:

Yes, there are stocks that I think are insanely priced, but SpaceX is not one of them.

Not every investor agrees with Cramer's optimistic assessment. Short-seller George Noble, who is betting against the stock, estimated its fair market value at just $30 per share back in August.

Potential Market Scenarios to Consider

To better understand SpaceX's valuation, investors must look at different market scenarios:

• Bullish Scenario: If SpaceX continues expanding its Starlink constellation and accelerates revenue growth, investors may remain willing to pay a premium multiple like 137x forward earnings.
• Bearish Scenario: If global economic conditions worsen or insider selling creates heavy supply pressure after Q3 results, the stock price could decline toward lower valuation targets like George Noble's $30 estimate.
• Neutral Scenario: Insiders may choose to hold their shares long-term, leading to sideways price action as market earnings gradually catch up to valuation metrics.

The New Spectrum Deal for Direct-to-Cell Service

Alongside lockup discussions, SpaceX made major operational news on Thursday. Jim Cramer described SpaceX's latest spectrum deal as HUGE.

The new deal enables SpaceX's Starlink division to sell cellular phone service directly to mobile devices without requiring extra satellite hardware.

Markets responded quickly to the news. SpaceX stock rose approximately 3.9% in pre-market trading on Friday morning. Meanwhile, traditional telecommunication carrier stocks faced selling pressure over fears of new competition.

How Unlocks Have Affected SpaceX Stock in the Past

Jim Cramer's primary advice regarding lockups is patience. Back in July, he urged viewers of his Mad Money program to wait until the first lockup release passed before making major investments.

Historical price movements show that lockup releases can cause mixed reactions:

• August Unlock: SpaceX stock actually rallied around the August share release date.
• September Unlock: The stock slipped lower following the September 24 unlock date.

Past performance of assets or companies does not guarantee future results.

What Happens Next?

The upcoming post-earnings batch will mark the largest share unlock since SpaceX's initial public offering in June. While increased share supply can create short-term price pressure, long-term performance will ultimately depend on business fundamentals and financial execution.