Tom Lee: Any sell-off in SpaceX is a buying opportunity, but chasing the price higher in the short term is not recommended

BlockBeats News, July 3rd, BitMine CEO Tom Lee said in a recent interview that he will not set a specific price target for SpaceX because its growth is mainly focused on the future. "Setting a target for it now is basically discounting the 20-year growth to the present, which is almost like speculation."

Tom Lee specifically mentioned the upcoming share unlock, indicating that early investors are likely to hedge their positions, creating selling pressure. However, this selling pressure "will instead turn into a good buying opportunity." Tom Lee believes that it is not advisable to chase high prices for SpaceX in the short term, and it is appropriate to build positions during the pullback caused by the unlock.

The first major SpaceX unlock window is expected after the Q2 earnings report, with the time frame from late July to mid-August, allowing eligible insiders/early investors to sell up to 20% of their shares. If the stock price consistently exceeds 30% above the IPO price (approximately above $175), an additional 10% can be released. Subsequently, there will be several small unlocks, such as around 7% on August 21st, around September 10th, and staggered releases at 70/90/105/120/135 days after the IPO, respectively. Around 28% will be released after the Q3 earnings report, and the majority of the remaining shares will be fully unlocked after the end of the 180-day lock-up period. Core shareholders like Musk will have a longer lock-up period, ranging from about 366 days to June 2027. Overall, August and September will be a period when SpaceX's unlock pressure is relatively concentrated.