SpaceX Stock Slides Toward $107 Support Ahead of Earnings

SpaceX stock is facing heavy selling pressure as it nears the $107 support level. The company is currently trading near its record low after closing at $108 on July 31. This decline comes at a tense time for investors who are waiting for the company to deliver its first earnings report since going public.

The market is nervous about the upcoming release of 911.5 million insider shares. When this lockup period ends, a large volume of new supply will become available for trading. Traders often worry that this increase in supply will put extra downward pressure on the stock price.

Investors are keeping a close eye on the $107 mark. If the stock drops below this support level, it could trigger further selling. The upcoming earnings report will be a major test for the company, as it provides the first real look at financial performance since the public listing.