Today is the big day for SpaceX SPCX's first unlock. Like I mentioned yesterday, an unlock doesn’t necessarily mean a drop, and so far, it’s performing pretty well—up 3.6% pre-market. But the real test of strength will come after the market opens. It’s not surprising if the stock doesn’t drop on unlock day. After all, the whole world knew about today’s unlock, so many people might have already hedged at higher levels. Today might just be a formality. Once the market opens and retail investors see there’s no drop, they might even close their short positions and buy back, pushing the stock price higher. After the market opens, there are three possible scenarios: 1. The stock dips right after opening, tests the 106–108 range, gets supported, and then sees a wide recovery. 2. Actual selling pressure is much lower than expected, shorts cover immediately, and the stock surges to 115–120. 3. The pre-market uptick is a bull trap, and during regular trading hours, large sell orders appear, breaking the previous low of 104.83. But even if the stock holds up today, this is just the first hurdle. There are still staggered unlocks of 7% of shares at milestones like 70 days and 90 days post-IPO. It won’t be until December that we can truly relax about the risk of sell-offs from unlocks. @BITstocks_CN Buy U.S. stocks on BIT—10,000+ U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.