▲ 752 ▼ SpaceX stock drops to a new low and loses $1 trillion in value in a month (www.businessinsider.com) submitted 1 month ago by sanitation@lemmy.today to c/technology@lemmy.world 137 comments fedilink hide all child comments
[–] Folstar@lemmus.org 2 points 1 month ago (2 children) 20% of all stocks, specifically those held by employees. permalink fedilink source parent hideshow 2 child comments replies: [–] SaveTheTuaHawk@lemmy.ca 1 point 1 month ago Who would be crazy not to dump permalink fedilink source parent [–] wewbull@feddit.uk 1 point 1 month ago That doesn't make sense so I went and looked it up. According to the S-1 filing of SpaceX, shareholders (which include employees with stock) can sell up to 20% of their stock starting on the second full day of trading after the company releases its first earnings report. So each employee can sell 20% of their stock (probably options, but since they've had an "Employee Share Purchase Plan" (ESPP) some will hold actual shares). If 80% of someone's holdings are dependent on them staying at SpaceX I doubt many will leave after selling 20%. permalink fedilink source parent
[–] SaveTheTuaHawk@lemmy.ca 1 point 1 month ago Who would be crazy not to dump permalink fedilink source parent
[–] wewbull@feddit.uk 1 point 1 month ago That doesn't make sense so I went and looked it up. According to the S-1 filing of SpaceX, shareholders (which include employees with stock) can sell up to 20% of their stock starting on the second full day of trading after the company releases its first earnings report. So each employee can sell 20% of their stock (probably options, but since they've had an "Employee Share Purchase Plan" (ESPP) some will hold actual shares). If 80% of someone's holdings are dependent on them staying at SpaceX I doubt many will leave after selling 20%. permalink fedilink source parent