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Story summary
- Space Exploration Technologies (SPCX) opened at $150 and rose to $185, up 23%.
- Lockup releases will free 20%-30% of shares before the July-August earnings report, which could trigger 1%-3% price drops.
- Analysts highlight a trailing price-to-sales ratio of 125 versus the tech sector average of 8 and recommend a one-year hold, noting large IPOs typically add only 3.5% after 12 months.
