SpaceX employees will sell shares
"I can tell you right now a lot of people are going to sell. There are people who've been in there for 20 years, and they want to go ahead and lock it in. Some of them have to sell because of tax reasons."
ℹ️ In shortDespite earlier claims, many SpaceX employees plan to sell their shares, some due to long tenure, others for tax reasons.
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… ave the lockup expiration where they can go ahead and sell all they want, and they're going to flood the market. They'll say, "No, we're not. We're going to hold. Everybody's going to hold." I keep hearing that from SpaceX employees and people who can't sell. I had a couple people reach out to me saying, "Mo, a lot of people aren't going to sell." I can tell you right now a lot of people are going to sell. There are people who've been in there for 20 years, and they want to go ahead and lock it in. Some of them have to sell because of tax reasons. And so, it's not that they don't want to, but they have to. And that's the problem I have. And fear, fear, fear is a crazy thing for people who have a ton of gains, and they start to see them going away. They can fear themselves right into getting out. And that's something I have watched many times in my lifetime of investing and trading and teach …
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